FRS MAY INCREASE RATES “AS COMING SOON” – YELLEN
Before the speech before the Joint Economic Committee of the Congress, the head of the Federal Reserve, Janet Yellen, said that progress on the labor market continues, and inflation, which remains below the 2% target level, has somewhat accelerated.
According to her, the central bank “will ensure a gradual increase in the rate for federal funds to guarantee the achievement of full employment and price stability.”
The current monetary policy is only “moderately accommodative,” as the rate remains below expectations at a neutral rate, “added Yellen.
Futures almost did not react to these statements of Yellen, and on Wednesday the Dow Jones Industrial Average registered the third record closing.