– China continues to “face significant challenges”
– The economic outlook is uncertain, monetary policy is not a foregone conclusion in advance course
– The course of the Fed interest rate will depend on the economic and financial situation
– The Fed expects that the economic situation will continue to improve
– Yellen expects the economy will evolve in such a way to justify “a gradual rise in interest rates”
– Current policy allows for inflation below the target level, ambiguous indicators of employment growth
– Careful policy allows economic growth.
– Low interest rates for the Fed to justify a cautious approach to the implementation of monetary policy
– The Committee expects that inflation will rise to 2% in the medium term
– The data indicate a “significant improvement” in regard to GDP in the 2nd quarter
– Consumer spending “increased significantly” in recent months,
– Visible cautious signs that wages may begin to grow
– The rate of improvement in the labor market appears to have slowed
– Brexit “may create risks for financial stability”
– US Financial vulnerability “moderate”
– Fed rarely used guidelines after crisis
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