Economics
Yellen’s Gradualism Doesn’t Mean Policy Halt as Fed Presses Ahead
- Chair says Fed should be ‘wary of moving too gradually’
- Yellen aims at legacy in what may be final months of her term
Yellen: Fed Not Considering Changing Inflation Goal
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U.S. labor-market hiring is robust, stock markets have hit record highs, global growth is recovering, and Janet Yellen does not want to leave interest rates on hold.
The Federal Reserve chair said on Tuesday that while uncertainty is high around the forces keeping inflation low, the U.S. central bank’s most likely strategy is to continue raising borrowing costs anyway. She added that “it would be imprudent to keep monetary policy on hold until inflation is back to 2 percent.”