, Columnist
The Caution Light Blinking in Yellen's Testimony
Appearances this week by two Fed officials give insight into the push for rate increases -- not too many, and not too fast.
Easing off the brakes.
Photographer: Jim Watson/AFP/Getty ImagesThis article is for subscribers only.
The retreat of inflation and lack of meaningful wage growth are becoming increasingly dominant in the Federal Reserve's deliberations.
Near the center, literally, of Fed Chair Janet Yellen's five-and-a-bit pages of written testimony to Congress was an acknowledgment that officials just don't know when the current very low levels of unemployment will translate into a spurt in pay.