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Trends This Week – Fed Chair touts “optimism”: Recovery or recession? – 06.08.16

While Federal Reserve Chair Janet Yellen and fellow Fed members bombarded the business media with the refrain that America’s economy was strong, and to expect an interest-rate rise “in the coming months,” this week, global forecaster Gerald Celente reminds his listeners what the facts – what the hard, indisputable data – say about the true state of the economy. So while Yellen states “the economy has registered considerable progress over the past several years toward the Federal Reserve’s goals of maximum employment,” hard data dispute her jobs-progress claim. In fact, since 2009, 95 percent of all income gains have gone to the richest 1 percent while median household income remains below 1999 levels. There is no recovery.