I just saw a tweet (which I retweeted)
It was a few words from RBC's Tom Porcelli:
"Yellen reverted to using some form of 'it depends on the incoming data' to answer questions in at least 13 instances"
Tweeted by @boes_ ... (Matthew Boes at Bloomberg is a 'must' IMO)
Yellen, and other Fed officials keep telling us this. And yet, there are still plenty who believe they won't raise rates, or they can't. I guess that's why she keeps on saying it. Yellen continually using some form of 'it depends on the incoming data' ... she is trying her darndest to lead the horse to water.
The Fed want to see the data showing further improvement in the labor market and to given them cause to have reasonable confidence that inflation will be moving to the Fed's target in the medium term.
That's the data they are watching.
