Fed's Yellen speech: Wage growth seems somewhat low given Fed 2% inflation objective

Eren Sengezer FXStreet

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.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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