ANN ARBOR, Mich. — Federal Reserve Chairwoman Janet Yellen indicated Monday that the era of extremely stimulative monetary policy was coming to an end. That will change the central bank's policy-making stance, she said, noting that Fed officials plan to continue gradually raising interest rates unless the economy begins to deteriorate. In a public discussion at the University of Michigan, Yellen said the Fed was moving away from its efforts to revive a recession-scarred economy and focusing instead on maintaining the gains of the past few years. How Goldman Sachs made more than $1 billion with your credit score. Also popular on WSJ.com:Wall Street made Charles Murphy successful and rich, but happiness eluded him.
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US inflation still slightly below target, Fed's Yellen says
Alexander Bueso Sharecast | 11 Apr, 2017 06:41 - Updated: 06:41 | | |The US central bank´s focus had shifted to maintaining gains in growth, its top policymaker said, adding that inflation was still a little bit below its target. Inflation, on the other hand, was still "slightly" below the Fed's 2.0% target, she added. Yellen emphasised that she was looking at the so-called 'core' measure for the personal consumption expenditures price deflator. Now, instead, it was trying to "give it some gas, but not so much that we're pushing down hard on the accelerator." In February, the core PCE stood at 1.8% year-on-year, unchanged from the previous month.
Yellen says Fed's independence under threat from Congress
"I think we have a healthy economy now," Yellen said at an event at the University of Michigan's Ford School of Public Policy in Ann Arbor. Unemployment, at 4.5 percent, is now a little bit below the jobless rate that most Fed officials think signals full employment, and inflation is "reasonably close" to the Fed's 2-percent goal, she said. The Fed raised rates in March for only the third time since the Great Recession, and most Fed officials expect the central bank to raise rates at least two more times this year. The Federal Reserve's plans to raise U.S. interest rates gradually are aimed at sustaining full employment and near-2-percent inflation without letting the economy overheat, Fed Chair Janet Yellen said on Monday. With the economy expected to continue to grow at a moderate pace, she said, the Fed is now shifting its focus.
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