Comments from Fed Chair Yellen:

  • I would really like to strong discourage” expectation that policy moves will only occur with scheduled press conference
  • We are very attentive to global developments
  • Decline in oil prices is one of the most important developments shaping world outlook
  • View of Fed is that decline in oil is a net positive
  • We certainly recognize that lower oil prices will put downward pressure on headline inflation and may spill over to core
  • We see inflation softness as transitory
  • “A couple means two”
  • The committee is not considering an overshoot of its 2% inflation target
  • The FOMC doesn’t believe there is a secular stagnation
Janet Yellen Fed Dec 17 2014

Janet Yellen

The US dollar continues to rally but to me it looks like real money buying that would have been there anyway.