Yellen Says Imprudent to Stay on Hold Until Inflation at 2%
- Chair says Fed should be ‘wary of moving too gradually’
- Yellen: Fed must adjust outlook when warranted by new data
Yellen: Fed Not Considering Changing Inflation Goal
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Federal Reserve Chair Janet Yellen said gradually raising interest rates is the most appropriate policy approach amid higher uncertainty about inflation, reinforcing the U.S. central bank’s forecast for another hike this year.
“It would be imprudent to keep monetary policy on hold until inflation is back to 2 percent,” she Tuesday in Cleveland. In addition, she said the Fed “should also be wary of moving too gradually.”