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Janet Yellen Explains “The Economic Outlook” To Congress – Live Feed

Thursday, November 17, 2016 11:23
% of readers think this story is Fact. Add your two cents. / by Tyler Durden / Nov 17, 2016 9:54 AM

Having warned of “excessive risk-taking” in her earlier released prepared remarks, Janet Yellen’s relatively hawkish testimony before the Joint Economic Committee (96% odds of Dec rate hike) will perhaps be most-watched for the Q&A. With Jeb Hensarling wanting to reform The Fed and “throw FSOC in the bin” and Trump allies demanding The Fed reduce its balance sheet (notwithstanding questions over Fed independence), we are sure to see some fireworks.

As we detailed earlier, here is a framework of 5 key items to look for courtesy of the WSJ.

1.  December Signal

All ears will be listening for Ms. Yellen to affirm recent statements from her colleagues that the Fed remains on track for a December rate increase. Officials signaled after their last meeting that they were getting closer to lifting rates, and needed only a little more evidence that the economy was improving to convince them to move next month. She could point to a handful of indicators the Fed has received since its Nov. 1-2 meeting: employers continued to add jobs at a steady clip in October, annual wage gains accelerated at the fastest pace since June 2009 and consumer spending at retail stores advanced at a healthy pace this fall.


The post Janet Yellen Explains “The Economic Outlook” To Congress – Live Feed appeared first on Silver For The People.


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