Posts Tagged ‘Fischer’

Notes From Underground: Mother Dove Commands Respect From the Baby Chicks

March 29, 2016

Today was the proof positive that the FOMC is under the command and control of Chair Yellen. As they said about Maggie Thatcher, “This lady is not for turning.” Yellen is a lonesome dove–if we bother to listen to the chirping from the baby hawks (EYAS in the bird world). It is these EYAS who ultimately say YES to everything the Mother Dove asks. There have been very hawkish speeches from FED governors and presidents during the last six weeks but still the vote at the MARCH FOMC was 9-1. There may be many EYAS but Yellen rules the roost. If Stanley Fischer had any sense he would resign and head back to academia where he carries far more weight.