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Congratulations to Janet Yellen, Winner of Today's Hoot of the Day Award

Janet Yellen did a complete flip-flop in her economic assessment from yesterday to today. Let's also take a look at past performances.
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Consumer is Strong Message Morphs Into Global Stagflation Warning

Consumer Balance Sheet in Good Shape

January 2021 Flashback

Yellen Praises a Weaker Dollar

Apparently a strong dollar that buys more stuff inhibits spending so inflation is the cure.

Yellen on Russia Sanctions

Biden Spending Proposals Not Inflationary 

Janet Yellen on an Inflationary Cycle

"I really doubt we are going to see an inflationary cycle".

No Us Recession

This week: "US Recession not expected."

Question of the Day

Yellen Q&A

Q: "Powell and Yellen have now both asserted the consumer is healthy this week. When do they walk that back?"

A: Today

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Treasury Secretary Janet Yellen said on Wednesday that elevated food and energy prices are depressing both spending and economic output, creating what she called "stagflationary effects" all around the world.

And that my friends is the hoot of the day. 

Stagflationary Effects All Around the World

Gee, Janet, who coulda thunk that? It's a genuine out of the blue economic shock. 

So was this news: Target Plunges 25%, What About Yesterday's Big Retail Sales Blowout?

Congrats to Janet Yellen numerous Hoot of the Day winner.

By the way, if you are expecting a quick rebound from today's stock market carnage, think again.

Credit Market Complacency Gives the Fed Room to Crush the Stock Market

Despite stock market carnage, corporate bond yields still scream complacency. This is not the bottom.

This post originated at MishTalk.Com.

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