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Yellen Says Job Weakness Forestalls Raising Rates
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U.S. Fed chairwoman Janet Yellen, says the Fed will be prepared to respond to the "twists and turns" in the recovering U.S. economy in 2014-2015. In many ways Yellen finds the recovery "disappointingly slow and consistent expectations for a pickup in growth dashed over a number of years." She sees the labor market behaving in "some perplexing ways and showing patterns that are novel." The high rate of long term unemployed is an abiding concern and Yellen says a healthy job market is "more than 2 years away." This clarifies remarks made at her first press conference, which were interpreted to mean the Fed would raise rates in a much shorter time frame. U.S. stock markets responded favorably to her remarks after declines and volatility over several weeks following the previous press conference.
Yellen's speech and Q&A with Feldstein at the New York Economic Club, May 16, 2014
04/16/2014
Grouped Articles
Yellen Stakes Out a Flexible Policy Path
Wall Street Journal 04/17/2014
Yellen Says Job Weakness Forestalls Raising Rates
New York Times 04/16/2014
WSJ's Hilsenrath: Fed Can Be Patient on Rate-Hike Debate After Data
Wall Street Journal 08/02/2014
Recognizing Bubbles But Still Cautious About Deflating Them
New York Times 09/10/2014
Fed Plots Cautious Course on Rate Rises
Wall Street Journal 09/18/2014
U.S. Federal Reserve chairwoman Janet Yellen's thinking on unemployment and expected Fed policy in 2014-2015
01/23/2014
Grouped Articles
Don’t Expect Job Data Alone to Persuade Fed on Rates
New York Times 01/23/2014
A Fed Policy Maker, Changing His Mind, Urges More Stimulus
New York Times 01/27/2014
Confronting Old Problem May Require a New Deal
New York Times 01/28/2014
More Men in Prime Working Ages Don't Have Jobs
Wall Street Journal 02/06/2014
Wall Street Journal 02/08/2014
Fed's Yellen Sets Course for Steady Bond-Buy Cuts
Wall Street Journal 02/12/2014
Yellen and Krueger on low short term unemployment pushing inflation up when long term unemployment is high
04/16/2014
Yellen's position is that it is premature to assume low short term unemployment at a time of high long tem unemployment will lead to increasing inflation. Krueger's research shows that this can happen. Yellen prefers to go by a range of indicators and look at the overall picture of evidence from economic trends including deflationary trends in Europe, low inflation and low wage pressures in the U.S. with slack in the economy.
Grouped Articles
Yellen’s Not on Team Krueger When it Comes to Inflation and the Unemployed
Wall Street Journal 04/16/2014
Yellen Says Job Weakness Forestalls Raising Rates
New York Times 04/16/2014
Hiring Is Strong and Jobless Rate Declines to 6.1%
New York Times 07/03/2014
WSJ's Hilsenrath: Fed Can Be Patient on Rate-Hike Debate After Data
Wall Street Journal 08/02/2014
Yellen Goes on Road to Investigate Health of the Jobs Market
New York Times 10/16/2014
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