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.
-- The dollar can’t appreciate further. That would depress inflation and exports, and hurt US manufacturing.
-- Commodity prices need to stabilise to help foreign producers find a better footing for growth.
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