|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Business & Economy (Click here for more)

Yellen Sees Interest Rate Hike Closer as U.S. Economy Improves

WASHINGTON – Federal Reserve Chair Janet Yellen said before the Senate on Tuesday that if the U.S. economy continues to improve the Fed will start considering hiking interest rates on a “meeting-by-meeting basis.”

Yellen said that the elimination of the word “patient” to describe the Fed’s position vis-a-vis a potential hike in rates, which currently stand between zero and 0.25 percent, does not mean anything other than that the central bank considers the time to think about raising rates to be coming “soon.”

The Fed chief made her remarks in her semiannual economic report to Congress, appearing in person before the Senate Banking Committee.

“If economic conditions continue to improve, as the (Federal Reserve Open Market) Committee anticipates, the Committee will at some point begin considering an increase in the target range for the federal funds rate on a meeting-by-meeting basis. Before then, the Committee will change its forward guidance,” Yellen said in her prepared remarks to the senators.

The most recent macroeconomic figures show that the economic recovery is continuing, with unemployment at the end of January standing at 5.7 percent, the lowest level since 2008, and 2.4 percent growth in the GDP during 2014, the biggest since 2010.

Nevertheless, the figure that the Fed is watching most closely at present is inflation, having established a 2 percent annual objective. In January, the annualized rate of inflation was only 0.7 percent, however, primarily due to low oil prices, a situation the Fed considers to be temporary.

Analysts believe that a Fed rate hike, which will be the first since 2008, will probably come at the central bank’s June meeting.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2020 © All rights reserved