Celente: ‘There’s panic on the Street’ simply because the economy is faltering
Today was Janet Yellen’s first day on the job as head of the Federal Reserve. And the Federal Reserve has already begun tapering its large scale asset purchase (quantitative easing) program. But the Yellen Fed will still be concerned with keeping equities and housing prices from falling.
Many new economy companies have benefitted from the market rally during the Fed’s QE program. One company which is getting a bid as the Fed transition occurs is Herbalife. Nevertheless, the head of the Federal Trade Commission has agreed to meet with minority and consumer activists to hear concerns about the company. Erin Ade details the discussions.
Then, Erin talks to Gerald Celente, author, trend forecaster, and publisher of the "Trends Journal" about the Fed, the US Economy and global economic trends. The US Federal Reserve has pared its QE program even before Janet Yellen took the reins. The question for Celente is what this means for the US economy. Yields have gone down, not up. But Celente believes this will not last and that the economy is faltering to boot.
And then, Erin and Boom Bust producer Edward Harrison discuss municipal deals that are making the rounds in two troubled locations, Detroit and Puerto Rico.