Yellen stresses commitment to ‘gradual’ rate hikes
Fed chair examines possible factors behind disappointing inflation results
Standard empirical analysis supports the Federal Reserve’s estimates that gradual rate hikes will still allow inflation to stabilise around 2%, Janet Yellen said in remarks on September 26.
The Fed chair examined some of the factors that could be to blame for inflation that has consistently undershot the 2% target in recent months. One possibility was falling inflation expectations, though long-range forecasts of inflation and longer-run inflation expectations have been broadly stable, she said
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