U.S. ECONOMICS: Yellen Says Fed Committed to Appropriate Accommodative Policy for "Considerable Time"

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Backpedaling off prior comments stating a possible rate hike in the second half of 2015 -- which sent stocks reeling -- Fed Chairman Janet Yellen soothed worries about an imminent rate hike, saying the Fed remains committed to keeping rates low for a "considerable time."

Speaking before the Economic Club of New York, Yellen also calmed financial market jitters surrounding higher rates by saying the decision about the "liftoff" for a rate hike is not based on any one indicator but will take into account a "wide range of information on the labor market, inflation and financial developments."

Furthermore, the Fed expects to maintain the current range for the Fed funds rate "for a considerable time after the asset purchase program ends, especially if projected inflation continues to run below the Committee's 2% longer-run goal, and provided that longer-term inflation expectations remain well anchored."



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This article appears in: Investing , Commodities

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