FOMC statement could mirror Yellen text
WSJ Fedwatcher Jon Hilsenrath believes the March FOMC statement could read almost exactly the same as Yellen's testimony. Rather than 'patient', it may say.
"Provided that labor market conditions continue to improve and further improvement is expected, the Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when, on the basis of incoming data, the Committee is reasonably confident that inflation will move back over the medium term toward our 2 percent objective."
He also notes that the phrase 'reasonably confident' appeared in the minutes of the December FOMC minutes.
"Several officials have said they want to start raising rates by June. It still isn't clear, however, if they'll reach the inflation confidence threshold by then," Hilsenrath writes.
