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

Consumer Balance Sheet in Good Shape

Hells Bells
Yellen’s yap is not consistent with anything.

Is not the Biden administration screaming about inflation and Warren calling for price controls?

— Mike “Mish” Shedlock (@MishGEA) May 18, 2022

January 2021 Flashback

Yellen’s only regret as Fed chair: Low inflation

What a hoot. Added a link and comments to my post above.

— Mike “Mish” Shedlock (@MishGEA) January 21, 2021

Yellen Praises a Weaker Dollar

“Higher currency drag on economy and consumer spending”
-Janet Yellen

what a joke that is (consumer spending ramped alongside strong USD)

— Keith McCullough (@KeithMcCullough) April 8, 2016

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

Yellen on Russia Sanctions

*YELLEN: AIM TO DO WHAT WE CAN TO REDUCE RUSSIA OIL, GAS REVENUE

Russian Oil Revenues Soar 50%, Hitting A Record Highhttps://t.co/1ebnAvONAv

— zerohedge (@zerohedge) May 18, 2022

Biden Spending Proposals Not Inflationary 

In May 2021, Yellen claimed that Biden’s spending proposals wouldn’t spark inflation. https://t.co/Uv95m6Rhgk

— Jeff Carlson (@themarketswork) May 18, 2022

Janet Yellen on an Inflationary Cycle

This is Janet Yellen exactly a year ago. These are the people in charge. She has never worked a real job in her life. pic.twitter.com/w6Hm88QKYb

— Stalingrad & Poorski (@Stalingrad_Poor) May 11, 2022

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

No Us Recession

#BREAKING US recession not expected but Europe ‘more vulnerable’, ‘more exposed on the energy front’: Treasury Sec. Yellen pic.twitter.com/7gCnA06MgY

— AFP News Agency (@AFP) May 18, 2022

This week: “US Recession not expected.”

Question of the Day

Powell and Yellen have now both asserted the consumer is healthy this week.

When do they walk that back?

— Hedgeye (@Hedgeye) May 18, 2022

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

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. https://t.co/j2G9AJo1FM

— The New York Times (@nytimes) May 18, 2022

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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