Economics
The Chart That Explains the Fed's Thinking Behind the Next Rate Rise
(Bloomberg) -- Federal Reserve Chair Janet Yellen comments on Fed policy and the U.S. economy. Watch all of the key moments of Yellen's news conference in Washington after a meeting of the Federal Open Market Committee in two minutes. (Excerpts. Source: Bloomberg)
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Chair Janet Yellen has found an unusual pacifier for financial markets anxious for clues about the Federal Reserve’s intentions: a chart with 68 blue dots.
The dots represent Fed officials’ forecasts for their main interest rate over the next three years. At her press conference this week, Yellen deployed them to emphasize her message that policy will remain easy for “quite some time” after the Fed raises rates above zero.