Economics
Yellen Keeps a Gradual Rate-Hike Outlook as Inflation Puzzles the Fed
- JPMorgan’s Feroli says testimony ‘straight down the middle’
- Yellen says inflation response to tighter resources uncertain
Janet Yellen's House Testimony in Two Minutes
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Federal Reserve Chair Janet Yellen said the U.S. economy should continue to expand over the next few years, allowing the central bank to keep raising interest rates, while also stressing a gradual approach to tightening as the Fed monitors too-low inflation.
“Considerable uncertainty always attends the economic outlook,” Yellen said Wednesday in remarks delivered to the U.S House Financial Services Committee. “There is, for example, uncertainty about when -- and how much -- inflation will respond to tightening resource utilization.”