Fed's Yellen: Employment is near maximum sustainable level

Felipe Erazo FXStreet

During a press briefing, Fed's Chairwoman Janet Yellen stated that U.S. economy appears to have rebounded after Q1 slowdown.

Key quotes (via Reuters):

Pickup in global growth helping U.S. exports this year
Job growth still well above pace needed to absorb new entrants to labor force
Stable labor force participation rates in recent years is sign of improving labor conditions
Job market will strengthen somewhat further
Employment is near maximum sustainable level
Additional gradual rate hikes will be appropriate over next few years

Market updates post-FED:

AUD/USD backs away from session highs after Fed delivered a hawkish rate hike

USD/CHF rises to 3-day highs after FOMC decision

Yellen defends the hawkish rate hike, EUR/USD surrenders gains

NZD/USD eases from 4-month highs during Yellen's presser

US Dollar spikes toward 97 on hawkish Yellen

USD/JPY recovers further with Yellen

Author

Felipe Erazo

FXStreet

Born in Colombia, Felipe Erazo is the American Session Manager at FXStreet. He has been studying journalism with a degree in social communication at the Universidad de Chile.

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