Trader Gregory Mannarino provides and excellent breakdown of the recent comments by Chair of the Board of Governors of the Federal Reserve System, Janet Yellen, offering a look into what was said, why it was said, what it means and why the stock market responded with a 200 point rally. With the multiple references to the decision making processes being "data driven," Mannarino highlights the "abysmal" economic data that came out this past Monday.
Mannarino explains that "nothing is real," and he informs us that the FED will be inflating the debt and stock market bubble.
Not 1, not 2, not 3, but 4 rounds of abysmal economic news.
1. Manufacturing activity has slowed for 2 consecutive months, to it's lowest level since 2013. 2. NY Fed. Empire State General Business Conditions index also fell, while economists polled expected a gain. 3. The New Orders Index dropped. 4. Home builder sentiment also "unexpectedly" fell.
The Board of Governors of the Federal Reserve System March 18, 2015 release can be found HERE and Yellen's statement can be seen in the second video below.
