Fed Might Begin Thinking About Raising Rates at Some Point – Ep. 56
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 26 February 2015
⏱️ 30 minutes
🧾️ Download transcript
Summary
* Janet Yellen's prepared remarks were the most dovish yet
* If economy is improving, why do we still need "a high degree of accommodation?"
* There is still room for "substantial improvement in the labor market"
* Any modification of guidance will not necessarily indicate rate increase
* Yellen states lower energy prices is positive for the economy, yet looks for higher inflation
* The Fed says outlook is data dependent and the data is getting worse
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Transcript
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| 0:00.0 | about Peter Schiff show. |
| 0:08.8 | Well Janet Yellen today concluded her two-day testimony yesterday she testified in front |
| 0:16.3 | of the Senate today, in front of the House. |
| 0:19.4 | This generally gives Republicans and Democrats an opportunity to get some publicity, to |
| 0:28.3 | push their agenda as they question Janet Yellen. |
| 0:33.5 | And a lot of the interesting remarks are made during the Q&A session. |
| 0:40.5 | But I want to focus on the prepared remarks right now because this gets a lot of forethought |
| 0:48.1 | because this is written. |
| 0:50.5 | Janet Yellen prepares these remarks in advance and I think they choose every word, right? |
| 0:56.1 | They painstakingly pick each word because they know how people parse through whatever |
| 1:02.3 | they write. |
| 1:03.3 | So I think if they wrote something they meant to put it in there, right? |
| 1:08.1 | It's not, this is not an oversight. |
| 1:10.1 | They choose every word very carefully. |
| 1:13.6 | And so I want to read a little bit from the prepared remarks that Janet Yellen read |
| 1:20.2 | to the House and to the Senate and just, you know, comment on it. |
| 1:23.3 | I guess I really think that these remarks were among the most dovish I've read. |
| 1:32.2 | And again, we're, you know, supposedly about three months from when they're supposed to |
| 1:35.7 | be raising rates, right? |
| 1:37.3 | I mean, the dollar had a huge rally, gold sold off based on the idea that the Fed was going |
| 1:42.6 | to be raising rates in June. |
| 1:46.1 | And if you actually pay attention to what Janet Yellen says, raising rates are the furthest |
... |
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