Janet gave her joint committee testimony today up on the Hill. Nobody in the room or watching understood a word she said which is exactly as it should be. Girl is right up to speed.
She explained while tapering will continue the liquidity grab bag will remain open as while there are signs that the recovery is improving it is still not where it should be but it should be better by the end of the year without inflation which means there will be no requirement to raise rates that she can see at this time so if there are no questions about any of this I'm prepared to sit here for the allotted time and listen to blubbering blabber which she did. Hell of a show, Janet.
This coupled with Putin indicating that he was not about to gobble up substantial portions of the Ukraine tomorrow calmed fears all over the world and equities shot up 117 points. All is well…except that the Chinese and the Vietnamese are ramming each other's ships in the South China Sea over a Chinese Oil Rig. Now THAT'S one I could watch all day long but I guess it's not a happy event. It is, however, one that can--and will--be easily ignored. Things are looking up.
In that case, I feel just fine about heading out to Virginia tomorrow for a few days of Grandparenting. The authorities know where to find me in an emergency and THIS TIME my lap top will be on the dashboard of my car…in a manner of speaking. Back Tuesday or before if needed.
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