Sunday, January 23, 2011

California and Janet Yellen will drive the next round of qe

Janet Yellen is the Vice-Chairman of the Federal Reserve. Ms. Yellen is from California. In California no economic recovery is taking place. This Spring, the Federal Reserve will need to decide on a continuation of QE. To guide the FED on further QE, I believe Ms. Yellen is already looking at charts–such as the kind displayed below. Updated with fresh data today for December 2010 it shows that California’s total employment has, from a crash bottom, increased by 79 thousand. The very small recovery in jobs seen in the first half of 2010 has now been turned back.

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