OctaFX | OctaFX Forex Broker
Open trading account
Back

Yellen Testimony: With gradual adjustments in the stance of monpol, economy will continue to expand

Below are the key headlines from the Federal Reserve Chairwoman Janet Yellen's prepared testimony speech before the Joint Economic Committee, U.S. Congress, Washington, D.C.

The U.S. economy has strengthened further this year.

17 million more Americans are employed now than eight years ago.

Meanwhile, the unemployment rate, which stood at 4.1 percent in October, has fallen 0.6 percentage point since the turn of the year.

U.S. inflation-adjusted gross domestic product (GDP) is currently estimated to have increased at a 3 percent pace in both the second and third quarters.

I expect that, with gradual adjustments in the stance of monetary policy, the economy will continue to expand and the job market will strengthen somewhat further.

We continue to expect that gradual increases in the federal funds rate will be appropriate to sustain a healthy labor market and stabilize inflation around the FOMC's 2 percent objective.

Related articles

Powell’s Senate confirmation hearing, broken down - Nomura.

Analysts at Nomura explained the detail around Powell’s Senate confirmation hearing overnight.

US: All eyes on Yellen and Q3 GDP - TDS.

Analysts at TDS point out that the Fed Chair Yellen will deliver her economic outlook to the Joint Economic Committee of Congress at 10:00 ET and she is likely to stick to the recent script and advocate a gradual normalization of policy.

About Janet Yellen

Janet L. Yellen took office as Chair of the Board of Governors of the Federal Reserve System on February 3, 2014, for a four-year term ending February 3, 2018. Dr. Yellen also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body.

Germany: CPI is expected to be 1.8% in November 2017

"The inflation rate in Germany as measured by the consumer price index is expected to be 1.8% in November 2017,"  the Federal Statistical Office (Dest
Read more Previous

United States Core Personal Consumption Expenditures (QoQ) in line with expectations (1.4%) in 3Q

United States Core Personal Consumption Expenditures (QoQ) in line with expectations (1.4%) in 3Q
Read more Next
Start livechat