Rick Santelli: The Economy Certainly Isn't Too Hot

Janet Yellen delivered testimony to the House Financial Services Committee on the Federal Reserve's semi-annual Monetary Policy Report to Congress. Rick Santelli gives his thoughts on Fed policy and the economy.

RICK SANTELLI: The economy certainly isn't too hot. Now, the real issue is that she didn't underscore that it's too cold. That's my read. And the reason that's important...I continue to say that maybe one of the big--biggest--miscalculations of investors for 2016 maybe that they look at what's going on within the economy and in the global economy and decide that's enough to stop normalization. I think the Fed is embarking on normalization for many reasons, not necessarily all of them fall under conventional wisdom.