Yellen Keeps Fed on Track for Rate Hikes
- Says asset valations ‘somewhat rich’ by traditional metrics
- Yellen says Fed’s plan to shrink balance sheet well understood
Yellen Says Rate Hikes on Track Amid 'Rich' Asset Prices
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Federal Reserve Chair Janet Yellen gave no indication her plans for continued monetary policy tightening had shifted while acknowledging that some asset prices had become “somewhat rich.”
“We’ve made very clear that we think it will be appropriate to the attainment of our goals to raise interest rates very gradually,” she said Tuesday in London.