Friday, September 27, 2013

does yellen still think like this ?..... read these yellen mental shit slides from '96

"Clearly, we have an economy operating at a level where we need to be nervous about rising inflation, even abstracting from supply side shocks."

" We can't dismiss the possibility that compensation growth will drift upward, raising core inflation and in turn inflationary expectations."

"This is a major risk. Obviously, we need to be vigilant in scrutinizing the data for signs of rising wages and salaries. "

"I would endorse the opportunistic strategy... "

"I see an opportunistic strategy as one that would not consciously use monetary policy to push the economy below potential in order to achieve a reduction in inflation,"

" unless inflation initially were significantly far from its optimal value...."

" I would see an opportunistic strategy as one that would
 look for gains on the inflation front during periods when
  negative shocks unavoidably create slack in the economy."