The recent wage report presents very good news for Janet Yellen:
It might have been slightly impacted by the hurricanes, but the loss of 100,000 low wage hospitality jobs in a 150,000,000 strong labor force isn’t very significant for aggregate hourly wages. And that’s not just my view, the markets feel the same way:
Yellen is on a glide path to near perfection, as she will probably end her term achieving the Fed’s dual mandate better than any other chair in history.
So let’s replace her with someone lacking qualifications and a history of bad logic and bad judgement!