The Day After: Yellen’s Big Mistake

The Day After: Yellen’s Big Mistake

So here we are, the day after a Fed hike that was supposed to (and by a lot of accounts needed to be) dovish. Wednesday's lackluster CPI and retail sales data should have been a "game changer" for Yellen's messaging, a lot of folks contended, going into 2 p.m. EST. Simply put: by the time the Yellen presser rolled around, it seemed like the financial universe had planted themselves squarely on the "listen to inflation" side of the argument (the other side of that being "listen to the ostensibly
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