Yellen sees gradual rate hikes but gives no set time frame
- 8 years ago
Korea's shares got a lift, after the prospects for a rate hike in the U.S. cooled.
This comes after Fed chair Janet Yellen made note of disappointing jobs figures for May,... as well as other uncertainties surrounding the U.S. economy.
Kim Min-ji looks beyond the digits.
Korea's benchmark KOSPI added 1-point-3 percent on Tuesday,... topping the 2-thousand level.
This comes on the back of predictions there won't be a rate hike by the U.S. Federal Reserve this month.
U.S. jobs data for May showed that only 38-thousand new jobs were created last month,... far below the expected 160-thousand.
Fed chair Janet Yellen acknowledged May job figures were disappointing,... although she said it would be wrong to put too much weight on a single report.
Speaking at the World Affairs Council in Philadelphia on Monday... Yellen also noted the uncertainties facing the U.S. economy -- such as slower demand and productivity, inflation as well as overseas risks -- which could change the Fed's course of action.
"So an important question is whether the U.S. economy could continue to make progress amid fairly considerable global bumpiness. I continue to think that the answer to that question is yes, but the weak investment performance in recent months is concerning and Friday's employment report provides another reminder that the question is still relevant."
Although Yellen said positive forces supporting employment growth and higher inflation would continue to outweigh the negative ones,... she did not give an exact time frame for a rate hike,... in contrast to a speech last month, in which she said the Fed will accommodate one in the "coming months."
"If incoming data are consistent with labor market conditions strengthening and inflation making progress toward our two percent objective, as I expect, further gradual increases in the federal funds rate are likely to be appropriate and most conducive to meeting and maintaining those objectives."
The U.S. central bank is set to kick
This comes after Fed chair Janet Yellen made note of disappointing jobs figures for May,... as well as other uncertainties surrounding the U.S. economy.
Kim Min-ji looks beyond the digits.
Korea's benchmark KOSPI added 1-point-3 percent on Tuesday,... topping the 2-thousand level.
This comes on the back of predictions there won't be a rate hike by the U.S. Federal Reserve this month.
U.S. jobs data for May showed that only 38-thousand new jobs were created last month,... far below the expected 160-thousand.
Fed chair Janet Yellen acknowledged May job figures were disappointing,... although she said it would be wrong to put too much weight on a single report.
Speaking at the World Affairs Council in Philadelphia on Monday... Yellen also noted the uncertainties facing the U.S. economy -- such as slower demand and productivity, inflation as well as overseas risks -- which could change the Fed's course of action.
"So an important question is whether the U.S. economy could continue to make progress amid fairly considerable global bumpiness. I continue to think that the answer to that question is yes, but the weak investment performance in recent months is concerning and Friday's employment report provides another reminder that the question is still relevant."
Although Yellen said positive forces supporting employment growth and higher inflation would continue to outweigh the negative ones,... she did not give an exact time frame for a rate hike,... in contrast to a speech last month, in which she said the Fed will accommodate one in the "coming months."
"If incoming data are consistent with labor market conditions strengthening and inflation making progress toward our two percent objective, as I expect, further gradual increases in the federal funds rate are likely to be appropriate and most conducive to meeting and maintaining those objectives."
The U.S. central bank is set to kick