FOMC's Yellen from Philly: Still expects gradual rate hikes appropriate if conditions met

Author: Greg Michalowski | Category: News

Speaking about monetary policy and the economic outlook

  • Current monetary policy stance generally appropriate
  • Monetary policy not on a pre-set course
  • Other labor market indicators have been more positive
  • believe we are now close to elimination labor market slack
  • cautiously optimistic overseas headwinds are now fading
  • global risk require continued detention
  • current monetary policy is modestly accommodative
  • good reasons to expect further progress on phase goals
  • need to watch labor markets developments carefully
  • jobs data showed wage growth may finally be picking up
  • China faces considerable challenges as it renounces
  • Brexit vote to leave may have significant repercussions
  • Says she sees economic positives outweigh negatives
The headlines initially sent the EURUSD to the downside/the USDJPY higher. Those losses have been recovered.   She did omit the time period for the next rate hike, although she was also less downbeat than expected about recent employment. 
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