Yellen Calls Inflation the 'Biggest Surprise' in the Economy - Bloomberg
'Yellen’s term expires in February and she is said to be among the candidates President Donald Trump is considering to be his pick to lead the central bank. '
'Some Fed officials have cited concerns over financial stability as another reason to gradually raise rates after U.S. stock markets reached record highs. '
'The U.S. jobless rate has fallen to 4.2 percent, its lowest level since 2001, and the participation rate has shown stabilization as Americans come back into the workforce. '
'Officials project another increase in 2017, and market pricing shows that investors see the move coming in December.“We continue to expect that the ongoing strength of the economy will warrant gradual increases in that rate to sustain a healthy labor market and stabilize inflation around our 2 percent longer-run objective,” Yellen said. '
'Wages have been slow to accelerate, but show early signs of life.“On balance, wage gains appear moderate, and the pace seems broadly consistent with a tightening labor market once we account for the disappointing productivity growth in recent years,” Yellen said in her prepared comments. '
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'Yellen’s term expires in February and she is said to be among the candidates President Donald Trump is considering to be his pick to lead the central bank. '
'Some Fed officials have cited concerns over financial stability as another reason to gradually raise rates after U.S. stock markets reached record highs. '
'The U.S. jobless rate has fallen to 4.2 percent, its lowest level since 2001, and the participation rate has shown stabilization as Americans come back into the workforce. '
'Officials project another increase in 2017, and market pricing shows that investors see the move coming in December.“We continue to expect that the ongoing strength of the economy will warrant gradual increases in that rate to sustain a healthy labor market and stabilize inflation around our 2 percent longer-run objective,” Yellen said. '
'Wages have been slow to accelerate, but show early signs of life.“On balance, wage gains appear moderate, and the pace seems broadly consistent with a tightening labor market once we account for the disappointing productivity growth in recent years,” Yellen said in her prepared comments. '
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