{"id":9170,"date":"2015-06-17T06:21:55","date_gmt":"2015-06-17T11:21:55","guid":{"rendered":"http:\/\/olduvai.ca\/?p=9170"},"modified":"2015-06-17T06:21:55","modified_gmt":"2015-06-17T11:21:55","slug":"janet-yellens-clout-today-is-especially-hefty-don-pittis","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=9170","title":{"rendered":"Janet Yellen&#8217;s clout today is especially hefty: Don Pittis"},"content":{"rendered":"<div class=\"story-headline\">\n<h3 class=\"story-title\"><a href=\"http:\/\/www.cbc.ca\/news\/business\/janet-yellen-s-clout-today-is-especially-hefty-don-pittis-1.3115351\" target=\"_blank\">Janet Yellen&#8217;s clout today is especially hefty: Don Pittis<\/a><\/h3>\n<\/div>\n<p class=\"story-deck\"><strong>The sense that change is afoot lends power to the U.S. central banker&#8217;s words<\/strong><\/p>\n<p>If you live\u00a0in a cave and survive\u00a0on nuts,\u00a0berries and the odd roasted squirrel, what U.S. Federal Reserve chair\u00a0Janet Yellen says today won&#8217;t make much difference to your life. At least not right away.<\/p>\n<p>But for the rest of us, from Saskatoon to Shahjahanpur, what she\u00a0says will matter. The powerful Yellen may talk softly, but she carries an enormous stick.<\/p>\n<ul>\n<li><a href=\"http:\/\/www.cbc.ca\/news\/business\/rate-hike-could-leave-mortgage-holders-stretched-survey-finds-1.3115612\">Rate hike could leave mortgage holders stretched:\u00a0survey<\/a><\/li>\n<li><a href=\"http:\/\/www.cbc.ca\/news\/business\/janet-yellen-warns-on-high-stock-market-valuations-1.3063837\">Janet Yellen warns on high stock market valuations<\/a><\/li>\n<li><a href=\"http:\/\/www.cbc.ca\/news\/business\/rate-hike-may-be-warranted-this-year-janet-yellen-says-1.3012927\">Rate hike may be warranted this year, Yellen\u00a0says<\/a><\/li>\n<\/ul>\n<p>Of course the U.S. central bank always has a certain amount of clout. But there are reasons that Yellen&#8217;s\u00a0pronouncements today on interest rates\u00a0may be more newsworthy\u00a0than usual.<\/p>\n<p>The first thing is the way Yellen&#8217;s message will be presented. Even when the Fed issues a written statement, market analysts go over the wording with a fine-toothed comb, interpreting subtle changes in wording.<\/p>\n<p>Like the printed statement,\u00a0Yellen&#8217;s\u00a0speech will\u00a0also be carefully penned, but\u00a0emphasis can lend\u00a0special meaning to a prepared text.<\/p>\n<p>Most revealing of all is the question and answer period, when Yellen\u00a0stands up\u00a0and, in the glare of camera lights, faces\u00a0the slavering wolves\u00a0of the financial press who will try to tempt her\u00a0into tiny indiscretions.<\/p>\n<p>Adding to the import of today&#8217;s speech and news conference is the\u00a0timing. It may be an illusion, but it feels as if the world is currently on the knife edge of change, what mathematicians call an inflection point, where things, once trending one way, suddenly begin trending another.<\/p>\n<p>In the fullness of time we may\u00a0find out we were wrong, but today\u00a0part of Yellen&#8217;s impact will be the sense that change is afoot.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Janet Yellen&#8217;s clout today is especially hefty: Don Pittis The sense that change is afoot lends power to the U.S. central banker&#8217;s words If you live\u00a0in a cave and survive\u00a0on nuts,\u00a0berries and the odd roasted squirrel, what U.S. Federal Reserve chair\u00a0Janet Yellen says today won&#8217;t make much difference to your life. At least not right [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[3544,3000,122,4936,303,6230,305,431,451,534,4069],"class_list":["post-9170","post","type-post","status-publish","format-standard","hentry","category-economics","tag-cbc","tag-cbc-news","tag-central-bank","tag-don-pittis","tag-fed","tag-federal-funds-rate","tag-federal-reserve","tag-interest-rates","tag-janet-yellen","tag-monetary-policy","tag-yellen"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9170"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9170\/revisions"}],"predecessor-version":[{"id":9171,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9170\/revisions\/9171"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}