{"id":14344,"date":"2014-06-22T08:54:31","date_gmt":"2014-06-22T06:54:31","guid":{"rendered":"http:\/\/praag.org\/?p=14344"},"modified":"2014-06-22T08:54:31","modified_gmt":"2014-06-22T06:54:31","slug":"the-yellen-fed-will-inflate","status":"publish","type":"post","link":"https:\/\/praag.org\/?p=14344","title":{"rendered":"The Yellen Fed will inflate"},"content":{"rendered":"<p>Frederick J. Sheehan is the author of <em>Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession<\/em> (McGraw-Hill, 2009), which was translated and republished in Chinese (2014). He is researching a book about Ben Bernanke.<\/p>\n<blockquote><p>As always, there was plenty of talk after Federal Reserve Chairman Janet Yellen held a press conference yesterday, June 18, 2014. Complaints are heard she said nothing of substance, which is true. To what the Fed might do, Yellen answered, \u201cIt depends.\u201d<\/p>\n<p>In fact, there is no question what Janet Yellen will do. The Yellen Fed will inflate until the markets tell the Fed what to do. The-then Vice Chair recited all one needs to know on March 4, 2013, in \u201cChallenges Confronting Monetary Policy.\u201d<\/p>\n<p>\u201cI view the Committee\u2019s current rate guidance as embodying\u00a0\u201clower for longer\u201d commitment\u2026.\u201d<\/p>\n<p>Federal Reserve Chairman Janet Yellen will inflate to infinity since her mind is incapable of grappling with an alternative.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The Yellen Fed will inflate until the markets tell the Fed what to do.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[7515,5352,3363],"class_list":["post-14344","post","type-post","status-publish","format-standard","hentry","category-news","tag-janet-yellen","tag-monetary-policy","tag-us-federal-reserve"],"cc_featured_image_caption":{"caption_text":false,"source_text":false,"source_url":false},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/14344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14344"}],"version-history":[{"count":1,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/14344\/revisions"}],"predecessor-version":[{"id":14345,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/14344\/revisions\/14345"}],"wp:attachment":[{"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}