Economics
Janet Yellen Says Low Inflation Still Major Source of Uncertainty
- Fed chair says outlook warrants continued gradual rate hikes
- 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 the Fed is monitoring too-low inflation.
“Considerable uncertainty always attends the economic outlook,” Yellen said Wednesday in remarks prepared for delivery 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.”