While yesterday speech by Janet Yellen in Philadelphia provided little in terms of actionable insight (but was far more dovish than her hawkish appearance in Harvard less than two weeks ago) and was described by analysts in a way that best validates their particular market outlook, something best summarized by the following tweet:
I've heard people interpret Yellen's speech as hawkish, dovish, and neutral. All 3 interpretations have one thing in common: bullish.— Michael Block (@MBlockRhino) June 7, 2016
... there was one amusing interlude. In the last question from the Q&A, a retiree asked Yellen if Donald Trump becomes president whether "there is a possibility of an economic crash all over the world because of the how the world views Donald Trump" and whether Yellen thinks that is possible. Here is her response.
While we have no particular insight on that question either, we wonder if and when someone will ask Yellen if there is a possibility that the actions by central banks over the past 8 years will "cause a crash all over the world" also.
Actually, we don't.