Fed's Yellen speech: Wage growth seems somewhat low given Fed 2% inflation objective
|Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, is responding to questions from Congress members with the key quotes, via Reuters, found below:
- Wage growth seems somewhat low given Fed 2 pct inflation objective
- Low productivity growth appears to be holding down wage growth
- Even if auto sales are off highs, there is consumer demand to support job growth
Key Notes:
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About Janet Yellen
Janet L. Yellen took office as Chair of the Board of Governors of the Federal Reserve System on February 3, 2014, for a four-year term ending February 3, 2018. Dr. Yellen also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body.
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