In her speech this morning before Congress’ Joint Economic Committee, Janet Yellen (who is NOT pictured above) said that she expects economic growth to continue over the next couple of years so that the markets return to a 2.0% inflation level. Ms. Yellen said that a rate hike would be appropriate “relatively soon”, stating that if they delay for too long, it encourages excessive risk-taking, undermines financial stability, and the economy would “overshoot the goals of the Committee”.
Speaking of overshooting goals, the Initial Jobless Claims fell by another 19,000 to the best figure since 1973. Continuing Claims fell by 66,000 to the lowest number in 16 years. The labor market, like the guy who IS pictured above, is looking strong.
