Fed’s Bullard Warns Yellen on Credibility, Sticks with Forecast “1 Hike in Next 2.5 Years”

Today has certainly been entertaining.

First, Janet Yellen came out with a chart showing there was a 70% chance that rates would be between 0% and 4.5% in 2018.  Is the 90% confidence level -1.0 to 6?

This was followed up by a blast from St. Louis Fed president and FOMC voting member James Bullard that the Fed’s Forecast of Gradual Rate Hikes is Damaging its Credibility and the Economy.

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