The Energy, Market, And Political Page, T+47 -- July 17, 2018

Lost in translation. I assume I'm among the many who are happy with the new Fed chairperson, now that the Fed has become more transparent. From CNBC today, the Federal Reserve Chairman Jerome Powell clarified his views on the economy:

• "Overall, we see the risk of the economy unexpectedly weakening as roughly balanced with the possibility of the economy growing faster than we currently anticipate," Powell said.

So, the economy is either going to fall off a cliff, or to continue growing. Okay.

And knowing the risk of the economy falling off a cliff is about the same likelihood as the economy growing faster, the chairperson says the Fed will continue to raise rates, maybe even more than previously anticipated.

The former chairperson, .... quickly, does anyone remember his/her name? -- Janet Yellen, was so much less transparent.