Fed’s ‘extraordinary’ policy to be around for long haul
Apr 1, 2014 5:06:21 GMT -5
Post by popcorn on Apr 1, 2014 5:06:21 GMT -5
Yellen: Fed’s ‘extraordinary’ policy to be around for the long haul
The Federal Reserve will continue to bolster the U.S. economy, Fed Chair Janet Yellen said on Monday, given the halting pace of the recovery and a still moribund job market.
In some ways, labor conditions are tougher now than in any other recession, Yellen said at a speech in Chicago. She added the Fed’s “extraordinary commitment,” in the form of massive bond-buying and ultra-low interest rates, is “still needed, and will be for some time.”
Investors were closely monitoring Yellen’s speech for comments on interest rates. During her first news conference following the Fed’s Open Market Committee (FOMC) rate decision, traders were startled by the suggestion of an earlier-than-anticipated increase in rates. She hinted that a rate hike could come as soon as next year, but Monday’s speech tempered that idea.
read more:
www.cnbc.com/id/101530694
The Federal Reserve will continue to bolster the U.S. economy, Fed Chair Janet Yellen said on Monday, given the halting pace of the recovery and a still moribund job market.
In some ways, labor conditions are tougher now than in any other recession, Yellen said at a speech in Chicago. She added the Fed’s “extraordinary commitment,” in the form of massive bond-buying and ultra-low interest rates, is “still needed, and will be for some time.”
Investors were closely monitoring Yellen’s speech for comments on interest rates. During her first news conference following the Fed’s Open Market Committee (FOMC) rate decision, traders were startled by the suggestion of an earlier-than-anticipated increase in rates. She hinted that a rate hike could come as soon as next year, but Monday’s speech tempered that idea.
read more:
www.cnbc.com/id/101530694