US Governor Janet Yellen has entered the pulpit in Jackson Hole, and at the same time the speech was released Federal Reserve’s website.
Where does Yellen clear that the US economy is approaching the central bank’s target for employment and inflation, and not at least that the case study on rate hike has strengthened in recent months.
– Looking ahead, FOMC (Fed interest Committee Federal Open Market Committee) moderate GDP growth, further strengthening of the labor market and inflation rises to 2, 0 percent during the next few years. Based on these prospects, holding FOMC on its view that gradual increases in the key rate will be appropriate over time to achieve and maintain employment and inflation close to our goal, she says.
Yellen disembarking nothing about timing the next rate increase.
the dollar reacted to strengthen the first minutes after the contents of the speech were known, and EURUSD went immediately from 1.1300 to around 1.1250. Eventually the trend has reversed, and the EURUSD is now in 1.1340. That dollar is weaker against the euro than before Yellen went on the podium.
US Treasury yields ticking down slightly.
On Wall Street held exchanges on the upswing from the early trade, before they has taken up further in the last few minutes.
Dow Jones, Nasdaq and S & amp; P 500 is writing up 0.6-0.7 percent.
Investors focused on the Governor’s positive statements about the labor market and other segments of the economy.
– the theme of Yellen speech seems to confirm the market has told us in recent months – economic conditions have improved, says trader and market strategist Frank Cappelleri by Instinet to MarketWatch.
the Yell speech here.
Follow developments on the stock markets here.
No comments:
Post a Comment