First there was the 2% Chinese Yuan devaluation that sent markets into a nosedive. Then there was the news that Iran is pumping the most oil since 2012.
But Iran is not the only country opening the pumps. Iraq, Saudi Arabia and the Arab Emirates are following suit.
As a result, the West Texas Intermediate Crude Oil futures price is down over 4% today.
Declining oil prices? Yuan devaluation? What will The Fed do???
*The Yellen fortune teller is courtesy of the great Jesse’s Cafe Americain!!