Last week, Janet Yellen said that The Fed was going to raise rates until our noses bleed - wait, she didn't say that.
"The committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the committee views as normal in the longer run."
So this column points out that the stock market knee-jerk reaction to the hawkish comments may have been a little too, well , knee jerk. Of course, there are other global concerns going on at the moment, but I recommend reading the Marketwatch column for a little Fed grounding.
But keep a handkerchief nearby just in case your nose does start bleeding.
Sent from Surface Pro