Baker Market Update: Dec. 18, 2017


To those brimming with Christmas spirit, who is more reviled; the Grinch, or Ebenezer Scrooge? Well, those two Christmas- carol- curmudgeons are getting a public relations gift this year. By voting against Janet Yellen on the occasion of her fifth and final rate hike, Neel Kashkari and Charles Evans moved to the top of the bah-humbug heap. For the first time since November of last year, more than one committee member chose to dissent, and they chose to do that on the occasion of what was Mrs. Yellen’s final policy action. Nice going guys; is this the year you tell your grandkids there’s no Santa?

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