Dennis Gartman: I Hope the Fed Keeps Its Mouth Shut

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Federal Reserve Chairwoman Janet Yellen will be on Capitol Hill Wednesday and Thursday to deliver her semiannual monetary policy report. Dennis Gartman of "The Gartman Letter" has a few thoughts for the Fed and its chairwoman.

DENNIS GARTMAN: Well, I'll agree with you Rebecca. I hope that the Fed keeps its mouth shut for a while. Sits down, does nothing. Remains very quiet. I have to agree that if the Fed were to move in the opposite direction, start to move to ease monetary policy, it would raise confusion. Just do nothing. That's all they need to do for a while. Back when I first started in the business in the early 70's, we didn't even know when the FOMC was meeting, and if we did know when they were meeting, we didn't know who was on the committee and if we knew who was on the committee, we didn't know if they were dovish or hawkish. Now we know everything about them. I wish the Fed would simply get quiet and almost disappear for a while. That would be better.

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