SPDR S&P 500 (SPY)

[risk on]

If anything the reversal was in the economic outlook, as that IS what drives fed decisions, yes? It seems what was certain is not so certain. Once we scrape off the facade of hype we get some economic data that is NOT so rosey. Consumer debt is spiking , job growth has flattened , wages are up very modestly , but housing prices, car and other durable good prices are up, which is doable given the easy credit and lower rates. However , credit is no way to live . The fact remains , most Americans don’t have enough squirreled away to get through an out of the blue expense .

I think Chair Yellen may just be saying that the economy is not as rosey as was thought?