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Yes, this was Federal Reserve Chair Janet Yellen’s last Open Market Committee (FOMC) meeting. And the FOMC raised, as widely expected, the Target rate (upper bound) to 1.50%.
Over the past year, The Fed has raised their target rate from 0.50% on 12/13/16 to 1.50% on 12/13/17, a 100 basis point increase over 1 year. Meanwhile, the Fed’s holdings of Treasury notes and bonds has declined (unwind).
Even since Bernanke and Yellen (Beryellen?) launched us on the QE train, core inflation has rarely exceeded 2% YoY and wage growth has been terrible.
Alas, Yellen and NY Fed’s Dudley, two ardent doves, will be gone.
Yes, Janet Yellen is a witchy woman.
Raven Gray hair and ruby lips
Sparks Bubbles fly from her finger tips
Courtesy of Jesse from Jesse’s Cafe Americain.
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