Fed says rate rises to be gradual

11 February 2016

 

Janet Yellen gave her semi-annual testimony before the US Congress and the tone of her comments revealed a slightly more cautious tone.  Yellen's testimony implied a March rate increase is unlikely but that the Fed is still being careful not to rule anything out beyond that while she reiterated the Fed’s expectation of gradual interest rate increases. Pricing in US cash markets currently implies a low probability of an increase...

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