The Phaserl


Yellen: ‘Unusually Cold and Snowy Winter’ Helped Cause ‘Pause’ in Economy

by Terence P. Jeffrey, CNS News:

Janet Yellen, the chairman of the Board of Governors of the Federal Reserve System, told the Joint Economic Committee of Congress today that she expects the economy to grow faster this year than it did last year even though real Gross Domestic Product is currently estimated to have grown at an annual rate of only 0.1 percent in the first quarter.

That absence of economic growth at the beginning of this year, Yellen said, can be blamed to some degree on the weather—and she was not talking about global warming.

“The economy has continued to recover from the steep recession of 2008 and 2009,” Yellen said in her opening statement. “Real gross domestic product growth stepped up to an average annual rate of about 3 and a quarter percent over the second half of the year, a faster pace than in the first half and the preceding two years.

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4 comments to Yellen: ‘Unusually Cold and Snowy Winter’ Helped Cause ‘Pause’ in Economy

  • Slvrizgold

    Yeah, a pause, like when your car won’t start no matter how hard you crank the engine,so you pause a little while before you crank it “one more time” but the damn thing won’t start. Because they never fixed what was broken under the hood. And now the octane of the fuel in the tank (currencies) is dropping (central bank liquidity.)

    • lastmanstanding

      Yeah…but the earth and the weather are honest. People better adapt to a life that is honest and a life that understands the earths curveball’s.

      The earth and our creator are about to send those who prey on others and the “entitled” bunch to a different place.

      Sooner the better.

  • Steelerdude

    Put on the fish waders ….its getting deep in here!

  • Eric

    This should be interesting. Watch how fast we fall downhill when you put the dumbest, most incompetent person you could find in charge of the largest central bank in the world. If you thought the bernank was bad, get ready for the real stupidity to begin.

    Janet Yellen… the class scholar and member of the honor roll, the boosters club, the psychology club, and the history club, as well as the editor-in-chief of the Pilot, the school newspaper at Fort Hamilton High.

    The ass kisser, the suck up, the brown noser.

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