Art Cashin: Fed Starting to Sound Like the 'Tower of Babel'

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CNBC's Bob Pisani and Art Cashin of UBS discuss the latest developments in the economy, including upward move in the dollar and the pressure its putting on commodities and commodity ETFs.

ART CASHIN: It's pretty much thanks to our friends at the Fed who are beginning to sound like the Tower of Babel.

People don't understand each other. There's no follow through. We went from Janet Yellen saying, "We've got our eye on the international situation. We're going to be restrained about what we do." And then we started with some non-voters. And then Mr. Bullard [said], "Maybe we could move in April. Maybe we should move in April."

Now these people look at the market and it rallied up and they feel, "Oh good, maybe we can raise rates now." They begin to talk about raising rates. The dollar goes up, as you said, and the market comes down!

BOB PISANI: It's like a hall of mirrors.

CASHIN: It's like a crazy loop. It's not very effective.

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