Daily Business Report

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Disband the Fed: The Most Accurate Statement Yellen Could Make Posted: 23 Jun 2016 06:11 AM PDT Fed's Yellen: US economy faces 'considerable uncertainty'  … Federal Reserve Board Chairwoman Janet Yellen testifies before the Senate Banking, Housing and Urban Affairs Committee on June 21, 2016 in Washington on June 21, 2016 …  Federal Reserve Chair Janet Yellen warned Tuesday that the US economy faces "considerable uncertainty" from slower domestic activity and from a possible British vote to break with the European Union.  -Yahoo Here's a question: Why is the Senate listening to Janet Yellen about the economy? It's like the blind leading the blind. The Senate has no idea what's going on with the economy. Neither does Yellen. She was wrong about hiking rates. She was wrong about the direction of the market. And she's been wrong about the economy as well. It's going down not up. The US is in the midst of a kind of depression. And there's no one economy anyway. The economy is made up of tens of millions of people. To generalize about them may be feasible but not necessarily accurate. Read the entire article

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