Janet Yellen speech: Fed is not discussing changes to inflation target

Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, is responding to questions from the press after delivering her remarks on the policy outlook, with key quotes (via Reuters) found below.

I am personally concerned with U.S. debt situation.

Fed is not discussing changes to inflation target.

If there were a negative shock to economy, there is scope to cut rates as well as other tools like asset purchases.

Fed has not studied negative rates to any considerable extent.

Key notes

Fed hikes and threatens more - ING.

James Knightley, Senior Economist at ING, explains that the Fed “dots” show a strong consensus for 3 hikes next year.

Buy the Fact: Gold jumps after Fed rate hike.

Gold (XAU/USD) jumped to a one-week high of $1255.44 after the Fed hiked rates by 25 basis points as expected and kept the interest rate dot plot unchanged.

About Janet Yellen

Janet L. Yellen took office as Chair of the Board of Governors of the Federal Reserve System on February 3, 2014, for a four-year term ending February 3, 2018. Dr. Yellen also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body.