Yellen Says Wage Growth Not ‘a Precondition to Raising Rates’
This article is for subscribers only.
Federal Reserve Chair Janet Yellen said policy makers are watching wage growth for indications inflation may be poised to increase.
“If we did see wage growth pick up that would be at least a symptom that inflation would move up over time,” Yellen said Wednesday in Washington in her first press conference this year. Still, she said, a pickup in wages isn’t “a precondition to raising rates.”