Rev's Forum: Sorry, Bears, but Yellen Dashed Your Hopes Again

The Fed has been ratcheting up its hawkish rhetoric lately, and the market has been starting to take notice. Last week, however, Federal Reserve Chairwoman Janet Yellen threw the bulls a bone in her testimony in front of the House Financial Services Committee. Without giving many details, she hinted that fiscal policy uncertainty and below-target inflation could influence the speed with which the Fed further raises the fed funds rates.

The bears have been insisting for years that the unwinding of the Fed's extraordinary monetary stimulus would be this market's undoing, and over the past few weeks the market has been struggling with the "balance sheet normalization" narrative. The bulls celebrated Yellen's backpedaling, as equities, bonds and precious metals traded higher in response....487 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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