Treasury Secretary Janet Yellen is speaking at The Atlantic's "Future Economy Summit" this morning - a speech she pre-recorded yesterday - and has sparked some chaos with her comments.
The highlight was this...
"It may be that interest rates will have to rise a little bit to make sure our economy doesn't overheat''
Dumb Cow. 1) The economy is not overheating. Main street America is dead. 2) A sharp stock decline will push foreigners to sell stocks in dollars and buy commodities pushing up wholesale costs. 3) Any inflationary push this year will have disastrous consequences in 2022 and beyond.