Yellen testimony ahead of Appearance at Joint Economic Committee 17 November 2016
FOMC judged in Nov that a rate increase could well become appropriate relatively soon
Delaying rates too long could encourage excessive risk taking and force a faster pace of increases
Holding steady in Nov did not reflect lack of confidence in economy but a judgement that the jobs market had more room to grow than Fed expected earlier in the year
There appears to be scope for some further improvement in the labour market
Further employment gains may well help support labour force participation and wage gains
Expects growth to continue at moderate pace with global growth firming further and a return to 2% inflation over the next couple of years
What a load of flannel. The jobs market has never looked so good and what did they really expect to happen to the jobs market over the course of one or two months? Suggesting that they held in Nov for jobs means they really have no excuse not to hike next month. For me that's nothing but an excuse to get through the election.
