[The following is my Markets commentary for the week of December 22, 2014, Issue 4.56]   So much confusion!  While “considerable time” did appear in the statement, I had a misread on where Yellen’s thoughts would be.  The market comments that I emailed this past week are in the Appendix.  The Executive summary for the week: Yellen was surprisingly hawkish in her tone. She was obviously moved by the very high December headline prints in the Employment Report and Retail Sales.  I’m curious to see how that holds up – people always assume the current data trajectory will continue.  That is…

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