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Yellen Says Imprudent to Stay on Hold Until Inflation at Goal
Tuesday, 26 September 2017 23:52 WIB | FISCAL & MONETARY |Federal ReserveThe FedJannet Yellen

Federal Reserve Chair Janet Yellen said raising interest rates gradually is the most appropriate policy stance now at a time of higher uncertainty about inflation.

œIt would be imprudent to keep monetary policy on hold until inflation is back to 2 percent, she said Tuesday in the text of remarks prepared for delivery in Cleveland. In addition she said the Fed œshould also be wary of moving too gradually.

U.S. central bankers are monitoring progress on their 2 percent inflation goal, which they have mostly missed for the past five years. Nonetheless, the Fed™s quarterly forecasts released last week continued to show most membersprojecting one additional rate hike this year and three more in 2018.

Yellen, in her most detailed speech on inflation risks this year, described three areas of uncertainty in the inflation outlook. œMy colleagues and I may have misjudged the strength of the labor market, the degree to which longer-run inflation expectations are consistent with our inflation objective, or even the fundamental forces driving inflation, she said.

 

Source : Bloomberg

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