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Wednesday, December 14, 2016

Yellen press conference: Expect inflation to rise to 2% over next couple of years

  • Fed officials see moderate growth in next few years
  • Inflation expectations remain reasonably low
  • We expect jobs conditions will improve somewhat further
  • Broader measures of labor market slack have moved lower
  • "Overall, these economic projects are very similar to the ones made in September"
  • Fed funds rate is only modestly below neutral rate
  • Gradual rate hikes are consistent with Fed's projections in dot plot
Yellen gave a little endorsement to the dot plot and how it's consistent with how the Fed anticipates gradual rate hikes.

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