So Long, And Thanks for All the QE: Chair Yellen Spills the Punch Bowl
by R. Christopher Whalen of the Institutional Risk Analyst
Lots more than meets the eye, per Whalen, with new Fed Chair, increased US borrowing, global debt concerns, etc. And who is really the majority owner of Deutsche Bank? Is it time for the old Dandy Don refrain, "Turn out the lights..the party's over?"
"The proverbial punch bowl has been spilled all over the floor. Not surprisingly, the departure of Janet Yellen as Chair of the Board of Governors of the Federal Reserve System is bad news in many quarters. The speculative policies that helped gun assets prices around the world are now ending – at least for now. An eight year bull market in bonds is also seemingly at a conclusion. Quantitative easing or “QE” went on for years longer than necessary, thus Yellen’s successor, Chairman Jerome Powell, must clean up a particularly large mess."