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From Citi comes a preview of Janet Yellen on Capital Hill tonight:
Yellen testimony meets policy ineffectiveness meets ‘sell everything’ mood
Fed Chair Yellen will confront political, asset market and Fed demons at her testimony this week. The narrative that she faces is that the US economy and asset markets are being sucked into the downdraft caused by oil, China, EM, reserve manager and SWF asset selling, commodities, currency war, the strong USD, weak European banks, weak Japanese banks, weak US banks and policy ineffectiveness & to name a few.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.