Janet Yellen's Full Press Conference Transcript
Zero Hedge
Much has been said about Yellen’s less than stellar first press conference so we will let her own words do most of the talking. First, from the transcript of her prepared remarks and the following Q&A, here are some highlights.
First, the word count:
- Market(s): 35
- Economy: 25
- Weather: 7
- Inflation: 58
- Deflation: 1
The word cloud:
Goldman’s take of the press conference (as opposed to the statement which we summarized earlier):
BOTTOM LINE: Chair Yellen’s first post-meeting press conference came across as slightly more hawkish than expected.
MAIN POINTS:
1. When asked how to interpret the new guidance that the fed funds rate would remain in the current 0 to 25 basis point range for a “considerable time after the asset purchase program ends,” Chair Yellen stated that “the language in the statement … probably means something on the order of six months.” Assuming tapering continues at a pace of $10bn per meeting, this suggests rate hikes could begin as early as mid-2015.
2. Asked how to explain the hawkish shift in the “dots,” Yellen stated that “the labor market more broadly I think has improved a little more than we might have expected,” but went on to say that “I think that one should not look to the dot plot so to speak as the primary way in which the committee wants to or is speaking about policy to the public at large.”
3. Explaining the statement that the fed funds rate may remain at a below-normal level even as employment and inflation approach “mandate-consistent levels,” Yellen mainly appealed to persistent headwinds from the financial crisis, and did not explicitly mention optimal control considerations as she has in the past.
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,707,084,680 |
| Stories: | 8,447,198 |
Whistler Blowers, Insiders
