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