Good outlook for U.S. economy from Fed Chair Janet Yellen

Let the housing price rise continue apace…

Ms. Yellen reiterated the Fed’s optimistic assessment that economic growth will strengthen this year, giving no sign the Fed is concerned about a recent spate of weak economic reports, including slow job growth in December and January. “The economic recovery gained greater traction in the second half of last year,” she said, citing the growth of spending by consumers and businesses. She said the Fed continued to expect “that economic activity and unemployment will expand at a moderate pace this year and next.” Ms. Yellen also downplayed concerns about turbulence in emerging markets like Turkey, which has been exacerbated by the Fed’s retreat.  “We have been watching closely the recent volatility in global financial markets,” she said. “Our sense is that at this stage these developments do not pose a substantial risk to the U.S. economic outlook.”

via Fed Chief, Pledging Continuity, Sees Economy Gaining – NYTimes.com.

About mkevane

Economist at Santa Clara University and Director of Friends of African Village Libraries.
This entry was posted in United States. Bookmark the permalink.