Yellen says Fed rate pause 'makes sense'

Holding interest rates steady "for a time" makes sense as monetary policymakers study data about the economy, the president of the San Francisco Federal Reserve said Monday 9 October.

"Holding the stance of policy steady for a time makes sense to me," said San Francisco Fed President Janet Yellen in prepared remarks to an independent bankers' group in California.

She described current interest-rate policy as "moderately restrictive," saying it is appropriate as officials try to temper inflatio