Yellen Outsources U.S. Monetary Policy to the Financial Markets
- Fed lowered 2016 rate projections after investors did
- `That's a good thing' for policy, economist Crandall says
Fed's Yellen Effect Spurs Stocks Higher in Global Rally
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The Federal Reserve looks to have outsourced monetary policy to the financial markets -- and that may not necessarily be bad.
Fed Chair Janet Yellen told the Economic Club of New York on Tuesday that policy makers had scaled back the number of interest rate increases they expect to carry out this year after investors did the same.