Former Federal Reserve (Fed) President Janet Yellen was on the wires late-Tuesday, commenting on the economic outlook and monetary policy in her speech in Washington.
Key Headlines:
Market volatility reflects uncertainty on trade, rates.
Worried by a buildup in nonfinancial corporate debt.
Not seeing financial trends that spell the end of the expansion.
Fed is trying to take its foot off the accelerator.
At least a couple more rate hikes necessary.
Worried about the risk of an overheating economy.
Labor market by any measure is very tight.
Financial conditions still easy despite market correct.
Inflation may pick up if the labor market continues to tighten.
Important that the Fed be forward-looking.
2019 growth could be bit slower but still above trend.
Don’t feel inflationary pressures building very rapidly.
Don’t love low growth but don’t want overheating economy.
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