As Yellen Rides Into the Sunset, An Odd Market Environment Exists Where “Phillips Curve is Dead”Mark Melin
When Janet Yellen took the podium for her final news conference earlier this week, there were several oddities. Not only was she a rare Fed chair who did not get re-appointed after achieving arguably strong economic performance – unemployment dropped, inflation remains subdued and the stock market did not crash as quantitative stimulus was extracted – but there were other oddities. In proclaiming the “Phillips curve dead,” Bank of America Merrill Lynch categorized the Fed raising interest rates as
SORRY! This content is exclusively for paying members. If you are subscribed and having an account error please clear cache and cookies if that does not work email [email protected] or click Chat.
This content is exclusively for paying members.