Losing confidence

Posted by Phil Flynn - The PRICE Futures Group

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Bernake-Panic-Slide-12The Federal Reserve failed to inspire confidence that they have a handle on what is happening in the global economy. Fed Chair Janet Yellen, in a press conference, seemed to be more defensive about misleading the market explaining why she and other officials said this meeting was a live meeting and then doubled down by saying a July interest rate increase is not “impossible.” 

Global markets are already losing confidence in the Fed and other central banks around the globe as it is looking more likely that they really are unsure of what to do next. It is looking more likely that the UK will vote to leave the Euro Zone and instead of providing the market confidence and cover, the markets showed disappointment after Yellen’s press conference that she and the Fed really have a handle on just what the heck is going on.

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This financial bubble is 8 times bigger than the 2008 subprime crisis