Yellen Q&A: Focus is not just on the next couple of quarters

Author: Greg Michalowski | Category: News

Q&A underway

  • Takes its mandate and objectives from Congress.
  • Some dissent is to be expected in this complex economy
  • Looking to achieve consensus on Monetary policy
  • Has always backed FOMC decisions as fed chair
  • Uncertain on what is normal rates. The current level of normal rates is pretty low
  • Yellen believes neutral rates to rise over time
  • No preset plan on rates. Difficult to provide precise guidance
  • Best we can do is explain what factors guide rate path
  • We constantly have to be reacting to new data
  • Refrains from commenting on Donald Trump implications. Q&A ends.
Overall:
The dollar fell modestly. 
The 2 year is at 0.799%/10 year at 1.7246% - down modestly
The S&P is up 0.43% Nasdaq is up 0.51% - up modestly
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