Yellen: What She Really Said About Interest Rates

Janet Yellen said that higher rates would be appropriate later this year, she did not say when, she did not say June, she just said later this year, provided that the economy continues to improve along the lines that the Federal Reserve expects. Now, exactly what those lines are, we do not know because the Federal Reserve does not want to tell us because they do not want to put themselves in a corner where they actually have to raise rates.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.