Economics
Yellen Calls Inflation the 'Biggest Surprise' in the Economy
- ‘Biggest surprise’ this year has been inflation, she says
- Yellen sees prices picking up, but structural change possible
NAB's Tan: Impact of Low Inflation Becoming Reality
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Federal Reserve Chair Janet Yellen said that the U.S. central bank expects to continue to raise interest rates gradually as solid growth, a strong labor market and a healthy global economy lift prices even as she recognized that inflation has been surprisingly low.
“My best guess is that these soft readings will not persist, and with the ongoing strengthening of labor markets, I expect inflation to move higher next year,” Yellen said Sunday at the Group of Thirty’s Annual International Banking Seminar in Washington.