The trading world was taken aback for several moments yesterday when Jefferies’ QE-fanboy David Zervos tweeted an Instagram photo that showed what Cloud 9 surely looks like for Fed sycophants:
Besides a promo shot for a new Lord of the Rings movie, many were left wondering what exactly was going on here.
As it turns out, this was Janet Yellen merely doing what all of her predecessors had – lucratively – done in the past with her inaugural paid dinner appearance before a wealthy Wall Street crowd of 40, two months after stepping down as Fed chair, in which she discussed the economy and interest rates at an event hosted by investment bank Jefferies.
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