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Predictions

Economics

Beware The Predictions Of “Experts” Like Janet Yellen

Speaking in London, Federal Reserve chair Janet Yellen predicted recently that the “the system is much safer and much sounder” and explained that the Federal Reserve is prepared to deal with numerous enormous shocks to the economy. In her conversation with Lord Nicholas Stern, Yellen also went on to list the reasons that, thanks to central bank intervention, there is unlikely to be another financial crisis “in our lifetimes.” For those who have lived through more than one business cycle, however, alarm bells tend to go off every time an economist, central banker or high-ranking government official declares that there’s… Keep Reading

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