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- Fed Chair Janet Yellen: If the labour market continues to improve more quickly, the Fed will hike its interest rate sooner than expected
Fed Chair Janet Yellen: If the labour market continues to improve more quickly, the Fed will hike its interest rate sooner than expected
The Federal Reserve Chair Janet Yellen testified before the Senate Banking Committee today. She said:
- The economy in the U.S. is continuing to improve but the recovery is not yet complete;
- There's no formula when the Fed will begin to increase its interest rate;
- Interest hike will based on a variety of indicators;
- If the labour market continues to improve more quickly, the Fed will hike its interest rate sooner than expected, but weaker conditions will mean a longer period of low interest rate;
- The Fed will continue to boost economic activity;
- Inflation remained below the Fed's 2% target;
- Monetary policy remains appropriate.
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