• Section Widget

  • Fed Chair Yellen says low inflation this year is an unexplainable 'surprise'


    Federal Reserve Chair Janet Yellen said Friday that the lack of inflation has been an unexplainable "surprise," while the Fed's removal of stimulus is "working well."
    "We've had a series of weak, soft readings on inflation, core inflation, beginning in March and the reasons for that are not immediately clear," Yellen said. Reasons for low inflation were "pretty understandable until this year. This year has been a surprise."

    Yellen was speaking on "Monetary Policy Since the Financial Crisis" at a National Economists Club dinner in Washington, D.C. She did not address specific changes to future monetary policy or recent speculation about whether she will be reappointed as Fed chair.

    The central bank began this month to reduce its balance sheet, a move that reverses a massive stimulus program begun in the wake of the financial crisis. The Fed also raised its benchmark interest rate twice this year, and markets widely expect another rate hike by the end of the year.

    "The process of removing accommodation is working well," Yellen said Friday. "I believe that influencing interest rates should continue to be our primary monetary policy lever."

    Yellen added that the unconventional monetary policy tools the Fed used in an effort to stimulate the economy in the wake of the financial crisis would remain an option for the central bank if needed.

    In Yellen's last major speech at the end of September, the Fed chair said "persistently easy monetary policy" might have "adverse implications for financial stability."

    Monetary policy could shift next year if President Donald Trump replaces Yellen when her term as Fed chair ends in February 2018. The vice chair position is also open after Stanley Fischer resigned effective a week ago.

    Trump has indicated he would make a decision on a new chair by Nov. 3.
    Trump may nominate both current Fed Governor Jerome "Jay" Powelland Stanford economist John Taylor to central bank leadership, according to a Fox Business News report Friday. The report cited an interview with the president set to air in full on Sunday.

    White House press secretary Sarah Huckabee Sanders acknowledged that both men are "under consideration" for the job but Trump "hasn't ruled out other options." Trump has said Yellen is still under consideration for reappointment.

    A CNBC Fed Survey published Friday morning found Wall Street overwhelmingly believes Trump will pick Powell to be the next Fed chair. However, respondents would prefer Trump reappoint Yellen.

    CNBC's Jeff Cox contributed to this report.
    This article was originally published in forum thread: Fed Chair Yellen says low inflation this year is an unexplainable 'surprise' started by cnbc.com View original post
  • Recent Forum Posts

    raniya

    Re: My trading platform.

    For trading, i use MT4. MT4 (MetaTrader 4) is an electronic platform for trading, analysing financial markets and using Expert Advisors, and is widely used by online Forex traders. the advanced MT4...

    raniya Today, 03:47 PM Go to last post
    raniya

    Re: Demo trading account

    Demo account is good to start trading in forex trading, especially for beginner. We also can try to test some account types which is provided by broker.We have a wide range of Live and Demo trading...

    raniya Today, 03:45 PM Go to last post
    raniya

    Re: Looking for a good broker.

    One of the advantages of registering with FXB Trading is that you have access to a range of trading products like CFDs on forex, indices, commodities and shares. These options for trading...

    raniya Today, 03:44 PM Go to last post
    Christopher Chappell

    Re: Computers helped.

    It's not just computer that brings revolution in trading. It's the easy access to internet along with computer and other devices. Anyone can access to the market with a PC and internet connection. It...

    Christopher Chappell Today, 03:24 PM Go to last post
    All-HYIPs

    JSRentHouse - jsrenthouse.com

    Start 12.12.2017 PerfectMoney Верифицирован, 0.2 Trust Score point(s)

    Languages: EN

    http://all-hyips.info/ru/banners/7204.gif

    Description:

    All-HYIPs Today, 02:59 PM Go to last post