BEIJING, April 17 (Xinhuanet) -- US Federal Reserve Chair Janet Yellen has said the central bank’s decision to raise interest rates, will depend on how well the economy achieves its employment and inflation goals.
In her second public speech as Fed chair on Wednesday, Yellen stressed that the Fed would respond to shifting economic conditions, as it judges when to finally tighten monetary policy. The Fed has kept its key rate near zero, to stimulate the economy since the depths of the financial crisis in late 2008. It aims for maximum sustainable employment and a rise in inflation from the current, just above 1 percent, to 2 percent.
"The larger the shortfall of employment or inflation from their respective objectives and the slower the projected progress toward those objectives, the longer the current target range for the federal funds rate is likely to be maintained. This approach underscores the continuing commitment of the FOMC (Federal Open Market Committee) to maintain the appropriate degree of accommodation to support the recovery. "Yellen said.
(Source: CNTV.cn)
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