Yellen takes control of Fed message to stress gradual approach
The chair of the US Federal Reserve signalled that interest rates will be raised at a cautious pace
Federal Reserve Chair Janet Yellen spelled out on Tuesday what she means by data dependence, asserting her leadership of the US central bank with a clear message that interest rates will be raised at a cautious pace.
In one of her most detailed policy discussions this year,Yellen gave investors a list of conditions they need to watch for future rate hikes. Here they are:
--Foreign economies and their financial markets need to stabilise.
