Industry NewsMarkets & Economy

Fed chief calls economy like he sees it

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Déjà vu all over again. Another spring, another housing-recovery chorus. The grass turning green ... another turning of economic corner. The days are longer, oil prices are higher, a new fatal shortage nigh. With the vernal equinox, Fed easing must be overdone, bond yields are rising, the easing propelling inflation trading and the stock market. Spring, and the sweet scent of horse manure. Birds are chirping, leaves and blossoms bursting open, but the economy is still largely where it has been since bouncing off bottom in the spring of 2009. Home sales are not rising, new or used. Prices may have flattened, but are not going up. The distressed "pig in the python" still threatens to depart the pig in alarming mass, volume and velocity. Oil is fooling around $100 a barrel, but it's impossible to square a dangerous shortage with substitutable natural gas one-seventh its price at the decade peak (natural gas, which was $15.38 per 1 million British thermal units in December ...