“The FED has been worshiped as all-knowing fonts of wisdom when nothing they have forecast has proven correct. Yesterday, Fed Chair Janet Yellen admitted that the FED is as confused about the lack of inflation as most of the prognosticators on Wall Street. This confirmed my theory that what the FED peddles IS NOT ROCKET SCIENCE .. IT’S NOT ROCKET SCIENCE!So much has been wagered on the high probability outcomes of the FED‘s models but now we are provided a sense of concern about the outcomes generated by those models.”

Notes From Underground: Which Spark Will Start the Prairie Fire?

Disclaimer: The views or opinions expressed in this blog post may or may not be representative of the views or opinions of the Financial Repression Authority.