Federal Reserve Chair Janet Yellen’s 3,600-word speech at an economic symposium in Jackson Hole, Wyoming, today set the stage for shifting gears in monetary policy in the months ahead. The pivot would come after years of keeping interest rates at record-low levels. Trillions of dollars in asset purchases are expected to end in October. Yellen
Some Fed policymakers are getting itchier to raise rates as the economy moves “Closer to Fine.”
Though unemployment is higher, the economy keeps pumping out jobs at a good clip.
The week’s highlights will include a Fed meeting, a jobs report and a Medicare birthday.
Ahead this week: key readings on housing and a Harry Potter anniversary.
The Federal Reserve finds plenty of signs of a rebound from the winter slump.
While the Federal Reserve has given stress tests to the nation’s banks since the financial crisis, the Fed chair’s semi-annual testimony before both houses amounts to Congress’ own version of stress testing the nation’s top central banker. But in her first of two days of appearances on Capital Hill, Fed Chair Janet Yellen’s so-called Humphrey-Hawkins
The Fed chief will try not to make news before Congress this week, but good luck with that.
Fed Chair Janet Yellen says she doesn’t see a need for U.S. monetary policy to shy away from the status quo.
With the Federal Reserve expected to begin raising short-term interest rates next year, outside observers say the central bank should soon begin holding news conferences after every regularly scheduled policy meeting. If the more frequent briefings don’t start this year, then they most certainly should early in 2015, the observers say. It was only three