Fed Yellen: December a live meeting, no decision made on rates

Ani Salama FXStreet

FXStreet (Córdoba) - Fed Chair Janet Yellen said the US economy is performing well although she acknowledged some slowdown in employment.

Regarding monetary policy, Yellen said FOMC thought it could be appropriate to move in December but that no decision was made. She reiterated that December would be live meeting as they continue to monitor data.

Yellen said she sees a gradual upward path for interest rates which shouldn’t hurt the housing recovery.

UPDATE

Yellen said that she sees "pretty strong" domestic economy being offset by global weakness weighing on the US economy.

She also commented she doesn't see need for negative rates now, but the Fed might consider them, and other tools, if the economy worsens.

Author

Ani Salama

FXStreet

Ani Salama is an Economist specialized in financial markets and statistics analysis. In 2010, she joined FXstreet where she now contributes with the news section.

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