From Marc Lichtenfeld, Editor, Oxford Income Letter:
What is it with politicians and bureaucrats who can’t keep their word? I’m all for flexibility and changing your mind when the facts change…
But how about when the facts remain the same?
For example, President Obama famously drew a line in the sand in Syria. Then when that line was crossed, he did nothing.
Fed Chair Janet Yellen said she’d start raising interest rates once unemployment fell below 6.5%. Today, unemployment stands at 4.9%… yet the Fed has raised rates only once, last December.
Most recently, Yellen & Co. said they would likely raise rates only twice in 2016, rather than the four times they had indicated earlier.
In all fairness, the economy isn’t exactly roaring ahead – but it has improved. Unemployment has fallen sharply, though wages haven’t increased much.
I’ve been saying for two years that the Fed won’t likely…