~*~Mining and Metals Du Jour~*~

[ConferredDiligence]

Yellen Reverses Earlier Hawkish Comments Entirely, Says "I'm Not Predicting Anything"

So after all the damage her reckless statements caused to PM's and stawks the bitch simply recants her utterance later in the day and all is well, except PM's of course. In the end, her comments flash crashed gold $25 and prevented it from crossing the $1800 mark this morning (still down $15), mission accomplished. You just can't make this shit up!

TUESDAY, MAY 04, 2021 - 04:17 PM
Update (1315ET): Just as we predicted - but even sooner than we expected - Treasury Secretary Janet Yellen has not just walked back her earlier statement but has entirely reversed it.

Speaking at The Wall Street Journal's CEO Council Summit, the former Fed head said she "didn't see [Biden's] rescue package overheating the economy."

Speaking at The Wall Street Journal's CEO Council Summit, the former Fed head said she "didn't see [Biden's] rescue package overheating the economy."

"Let me be clear it’s not something I’m predicting or recommending,” Yellen says about rates, flip-flopping her earlier perspective entirely.

Then she addressed the issue of inflation, toeing the establishment line that it will be "transitory" for the next six months or so...

She added that if there is an inflation problem she is certain the Federal Reserve can be counted on to address it.

We wonder who tapped her on the shoulder and said "stay in your lane, Janet!"

https://www.zerohedge.com/markets/stocks-extend-losses-after-yellen-says-rates-will-have-rise