Yellen Q&A: Weak GDP forecasts reflect poor productivity

Yellen in the Q&A:

  • 180K jobs per month is very solid and likely not sustainable in longer-run
  • I don't think slow growth bears on the inflation outlook
  • We are getting jobs growth despite slow growth

The US dollar is testing the lows of the day.

  • Up to Congress to decide Fed governance but I suggest they think through changes
  • I'm not in favor of 'whites of their eyes' inflation approach

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