From the Wall Street Journal:
- Encouraged by progress in the U.S. labor market, but uncertain if it is enough, the Federal Reserve Board chairwoman and other officials who gathered here for a central-bank conference left the public guessing about when they will start raising short-term interest rates
- Ms. Yellen … not yet ready to signal any shift in the Fed’s interest-rate plans
- “Our assessments of the degree of slack must be based on a wide range of variables and will require difficult judgments about the cyclical and structural influences in the labor market,” she said. “While these assessments have always been imprecise and subject to revision, the task has become especially challenging in the aftermath of the Great Recession.”
More at (gated): Fed’s Yellen Remains Mum on Timing of Rate Change
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More on the Federal Reserve and Yellen here:
- By Yellen’s own measure, she should be raising rates
- Yellen: Faster progress on goals may bring rate rises sooner
