Former Fed chair Yellen on the outlook
- Says she would be near median in Fed forecasts
- Next Fed move could be cut or hike
- Not seeing strong inflationary pressures emerge
- Wage growth has moved up but not a lot
- Sees risks from slower global growth and spending
The 2015/16 period is more interesting than it looks on many charts. Oil and commodity prices imploded and business investment cratered. It could have easily ended in recession if not for Chinese stimulus and central banks making a dovish shift.
