Jackson hole did little more than make Fed Chair Janet Yellen look like a blithering fool.
Her chart of confidence levels on interest rates was just one of many silly things.
Here’s a roundup of tweets and posts that shows what I mean.
Proof Economists’ Style
Proof looks like this at #JacksonHole. No empirical evidence needed.
Investigating the Crisis
Pre-crisis look at gap Fed has created between financial valuations and economic activity.
Can It Be a Bubble If Everyone Thinks So?
Jackson Hole Postmortem
ZeroHedge provides a summary of quotes in his Jackson Hole postmortem: “It May Take A Massive Program, Large Enough To Shock Taxpayers”
And once again here’s a chart from Yellen’s own presentation.
Fed Confidence Levels
- Yellen Discusses “Tools”: She’s 70% Confident That Rates will Be between 0 and 4.5% in 2018
- Rate Hike Odds Soar Following Yellen’s Speech: Before and After Snapshots vs. Yesterday
- Fed’s Bullard Warns Yellen on Credibility, Sticks with Forecast “1 Hike in Next 2.5 Years”
- Confidence in the Fed Sinking Fast from Greenspan to Bernanke to Yellen: How Much Confidence Do You Have?
Mike “Mish” Shedlock