In response to an FT article by Shawn Donnan and Richard Blackden on 27th August 2015, entitled 'Strong US growth in Q2 poses rate conundrum for Fed'
When Dr. Yellen said 'the Fed is data dependent', this was in fact a typo. What she meant to say was 'the data is Fed dependent'. This has caused confusion throughout the bank and the rumours are that this latest data is definitely not what the doctor ordered. Poor Mr Dudley is now so confused he doesn't know whether to retract his previous statement or re-state his previous retraction.
Moving forward a member of the Fed backroom staff will be instructed to stay awake during Dr. Yellen's speeches in case the proof-reading department experience further problems.
Larry is reported to be miffed, but we can't say too much about that.