Harry Truman had a famous quip about economists. He said:
Give me a one-handed economist! All my economists say, ‘on one hand … on the other.’
Lots of people on Wall Street are recycling that line in light of Janet Yellen’s labour market speech today.
Basically, she didn’t take a very strong stand, and used nuance to describe the labour market, which is improving, and yet still not where it needs to be.
First, here’s Ethan Harris and Michael Hansen at BofA/ML
And here’s UBS’s Maury Harris:
And Jim Pethokoukis tweeted this from JPMorgan:
So there you have it.
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