She has been saying for quite a while that rate hikes are coming.
There was June 2016:
Fed's Yellen sees rate hikes ahead, but few hints on when
There was August 2016:
Yellen Sees Stronger Case for Interest Rate Increase
"Janet L. Yellen, the Federal Reserve chairwoman, said on Friday that she saw a stronger case for raising the Fed’s benchmark interest rate, suggesting the central bank was likely to act in the coming months.
“In light of the continued solid performance of the labor market and our outlook for economic activity and inflation, I believe the case for an increase in the federal funds rate has strengthened in recent months,” Ms. Yellen said."
She made an equally absurd statement in December of 2015, then acted on it, which she now rues. What a rube. As of August 26, 2016, Yellen sees a solid labor market. One week later:
"Hiring fell back to earth with the total change in hiring of 151,000, the private sector generating only 126,000 and the unemployment rate holding steady at 4.9 percent. In our estimation, the topline and private-sector number is indicative of the true trend in hiring, which late in the business cycle is slowing. We have made the case for some time that hiring is falling back to around 100,000 per month with risk to the downside given demographic changes and the pronounced slowdown in overall productivity.” –Joseph Brussels, RSM
Yellen, again, falls back to earth. I cannot fathom why anyone would spend one minute listening to her. That dog don't hunt. She simply cannot seem to understand what is going on in the economy for one minute.
Expect more articles featuring Janet Yellen, beginning with words like, "surprising," "shocking," unexpected." Because the obvious eludes here grasp.