Data-Dependent Yellen Running Out of Reasons to Delay Hike
Thursday, March 2, 2017 at 07:07PM
U.S. economy near Fed goal of stable prices, full employment
Dudley signals ‘compelling’ case, Brainard tilts hawkish
By most real indicators, the U.S. economy is not too hot or cold, yet financial markets are betting that a core group of Federal Reserve officials who set interest rates are suddenly raring to go.
They could have those convictions confirmed or tempered when Fed Chair Janet Yellen gives an economic outlook speech in Chicago on Friday. If her remarks from January are a guide, Yellen will give investors an update on progress toward the Fed’s goals of full employment and stable prices. It wouldn’t be hard to make a case for higher rates, and doing so would put Yellen in line with many of her colleagues. But part of Yellen’s style is to also offer caveats on headline indicators.
Depending on how Yellen balances her comments, she could set up a March increase or walk back market expectations, which currently place odds of an increase this month at about 88 percent. Here are the moving parts to watch.
gold and silver are now under the shadow of the Fed who may hike the rates on 15 March 2017 and follow with more hikes....
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