Fed's Yellen says solid economic growth means more rate hikes ahead
Reuters
Published Feb 02, 2018 07:00PM ET
Fed's Yellen says solid economic growth means more rate hikes ahead
(Reuters) - Outgoing Federal Reserve Bank Chair Janet Yellen said on Friday that solid economic growth, faster wage increases, and a tightening labor market mean the U.S. central bank is likely to need to continue to raise interest rates gradually, as it has signaled it will.
"The economy is growing at a healthy, solid pace," Yellen said in an interview with PBS NewsHour on the last day of her four-year term. "The job market is strong and inflation is low ... The Federal Reserve has been on a path of gradual rate increases, and if conditions continue as they have been, that process is likely to continue, and as it does we would expect long rates to move up."
On Saturday she hands the reins to President Donald Trump's pick to replace her, Governor Jerome Powell. She will stay in Washington as a fellow at the Brookings Institution, the think tank where former Fed Chair Ben Bernanke also works.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.