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Yellen’s Latest Message to the Markets

Yellen’s Latest Message to the Markets

5 Years ago | March 31, 2015 00:00:00

Another Surprise
I was not expecting much from Fed Chair Yellen's speech last Friday. After all, the Fed had just released a full policy statement on March 18 and then Yellen had held a full-blown press conference after the Fed policy decision. What more was there to be said? Having been an observer of the Fed for more years than I would care to admit, there have been times over the years when the Fed has felt the need to "correct" market perceptions about policy. I believe that her speech on Friday was one of these occasions. Following the March 18 meeting, the markets had been left with the impression that the policy now would emphasize boosting inflation

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