"Last week, Fed drama; next week, fiscal drama," Bank of America Merrill Lynch's Savita Subramanian quipped. Expect lots of drama. Then again, drama and uncertainty define the nature of the economy and the markets. It's always been that way. On Thursday, Fed Chair Janet Yellen told an audience at UMass Amherst that while current inflation readings remain low, those numbers are being held down mostly be "transitory" special factors. "I expect that inflation will return to 2% over the next few years as the temporary factors that are currently weighing on inflation wane, provided that economic growth continues ... (full story)
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