Yellen continues to shuffle up against the “force” of the US economy

US Federal Reserve Chairman Janet Yellen said today that the central bank remains firm in its plan to gradually raise interest rates to the “strength” of the US economy.

At an event in Washington, Yellen spoke of the growth of corporate investment and good US employment data, which stood at 4.2% in September, at full employment levels, as well as the benefits that the country is receiving for the global economic improvement.

Speaking of interest rates, Yellen said the US central bank. “continues to hope that the current strength of the economy will justify gradual increases in that rate to sustain a healthy labor market and stabilize inflation around our 2% long-term target.”

The year-on-year inflation rate closed August at 1.9%, below the central bank target of 2% a year.

The central bank is immersed in a gradual monetary tightening and has raised interest rates on two occasions throughout 2017, to the current range of 1% to 1.25%, and is expected to make the price of money again before the end of the year.

At the September meeting, the central bank headed by Janet Yellen decided to keep benchmark interest rates in the range of 1% to 1.25% unchanged.

Throughout this year, the Fed has raised the price of money twice and had anticipated in early 2017 up to three increases.

Upcoming meetings of the central bank’s Federal Open Market Committee (FOMC), which runs US monetary policy, will take place later this month and mid-December.

Yellen spoke today at a seminar before the Group of Thirty, a think tank in Washington that brings together bankers, university students and international investors.

Leave a Reply

Discover

Sponsor

spot_imgspot_img

Latest

34-21. Forté leads the winning attack of the Jets in a duel with the Bills

Star runner Matt Forté advanced on the ground for two touchdowns four days after complaining that the New York Jets did not do enough. However,...

American Airlines suspends indefinitely its flights between the US and Venezuela

 Washington, - American Airlines today announced its decision to suspend "indefinitely" its flights between the US. and Venezuela, which had already interrupted temporarily since...

Venezuela elects a National Assembly whose legitimacy is in question beforehand

With the bulk of the opposition betting on the boycott, Maduro has said that if he loses Chavismo he will leave the Presidency Venezuelans are...

Vicente Fernández rejected transplant for fear that the donor was gay

 Mexico, .- The Mexican singer Vicente Fernandez, a figure of ranchera music, refused to receive a liver transplant for fear that the donor was...

Trump says Russia is not happy with withdrawal from Syria, although Putin greets her

US President Donald Trump said today that the Kremlin and Iran, among others, are not "happy" with their decision to withdraw troops from Syria,...
%d bloggers like this: