Yellen stresses commitment to ‘gradual’ rate hikes
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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