“Janet Yellen and her band of money printers think they are driving the GDP forward toward the nirvana of full employment and the achievement of every last dime of “potential GDP”. What they are actually doing, instead, is inflating the Wall Street bubble to ever more dangerous heights because their monetary injections never make it to the real main street economy”
David Stockman does a great job of deconstructing the GDP data to show that the basis for the Federal Reserve’s interest rate rise expectations is for the most part a statistical illusion.
