Yellen did what both Greenspan and Bernanke did...pass the baton with the Fed being almost perfectly neutral with the actual real Fed Fund Rate now at -.22% and my modified Taylor Rule calling for -.26%.
Rather amazing in that each of the last three Fed Chairs all walked away with a perfect mark!!!
Now it's Powell's turn, the non-economist, his tenure can't be any better, but can be way worst.
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