Fed Chair Yellen: Raising interest rates at March meeting would probably be appropriate if economy evolves as expected - comments in Chicago
- "At our meeting later this month, the Committee will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal funds rate would likely be appropriate."
- Risks to growth have receded; developments since mid-2016 support view that Fed is on track to reach goals
- FOMC sees risks to the outlook as roughly balanced
- No evidence the Fed has fallen behind the curve
- Gradual accommodation removal likely still appropriate
- Reiterates monetary policy cannot be and is not on a preset course.
- With labor market conditions now in the vicinity of our maximum employment objective, the Committee considers it appropriate to move toward a neutral policy stance.
Fed Chair Yellen: Fed members have decided to be patient and wait to see what happens with Trump administration policy plans - Q&A
- Central bankers do understand there are linkages between countries
- There's not all that much the Fed can do to affect labor force growth