Yellen Speech: Fed is taking into account movements in asset prices in deciding rate hikes
|Janet Yellen, Chairwoman of the Federal Reserve, is responding to questions from the press, with key headlines, via Reuters, found below:
- If it proves that inflation shortfall persists, it will be necessary to change monetary policy to address it
- Tightness in labor market will lag in pushing up wages, prices
- It is not easy to get a clear read on the implications of asset prices for the overall economic outlook
- Fed is taking into account movements in asset prices in deciding rate hikes
Key headlines:
The September FOMC saw the Fed keeping rates unchanged with an accompanying monetary policy statement which itself was virtually unchanged from the prior meeting
EURUSD falls sharply as hawkish Fed inflates the greenback
The Federal Reserve did not disappoint those who were waiting for hawkish stance and firmer signals about central bank’s next steps in coming few months.
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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