Advice for Ms. Yellen
The article contains a really fascinating exchange between William Dudley, president of the New York Fed bank, and John Taylor, an economist of extraordinary common sense, judging from the exchange:
Dudley: "I don't really understand what is unclear right now."
Taylor: "Are you kidding? No one know what you are doing."
In fact, I would conjecture that the Board itself does not know what it is doing.
Therefore, I suggest that Ms. Yellen and her co-gurus take counsel from the following page:
Surely reading tea leaves will be more accurate than relying on the pseudoscience of econometrics.