“Janet Yellen is being pushed into a corner by the Fed’s own pronunciamientos. It has been threatening to raise interest rates when its inflation and employment targets are hit. And hit they have been. So what’s she gonna do?  Our guess is she means what she says. She is a smart woman. But she is not smart enough to see that she has been talking claptrap… and not courageous enough to admit that her career is built on it.  If she sees any sign the ‘recovery’ has been put in danger by her attempts to normalize interest rates… she will back up. That is the history of the last seven years of Fed policy… and it is probably the best guide to the months ahead.”

http://www.bonnerandpartners.com/the-feds-next-move/

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