FED, USA

Some points from Yellen’s Debut

Janet Yellen made her first public comments as Federal Reserve Chair in a grueling, nearly day-long, testimony to the House Financial Services Committee.  Her testimony made clear that we should expect a high degree of policy continuity.  Indeed, she said so explicitly.  The taper is still on, but so too is the expectation of near-zero interest rates into 2015.  Data will need to get a lot more interesting in one direction or the other for the Fed to alter from its current path.

http://economistsview.typepad.com/timduy/2014/02/yellens-debut-as-chair.html

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