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The Federal Reserve is preparing to consider interest rate hikes "on a meeting-by-meeting basis," Fed Chair Janet Yellen told a congressional committee on Tuesday, a subtle shift of emphasis that helps lay the groundwork for the Fed's first rate hike since 2006. In remarks to the Senate Banking Committee, Yellen described how the Fed's rate-setting policy committee will likely proceed in coming months - first by removing the word "patient" in describing its approach to rate hikes, then entering a phase in which rate hikes are possible at any meeting. That approach could open the door to an interest rate increase as early as June, though investors interpreted Yellen's testimony overall as likely indicating a later date for liftoff. Janet Yellen breezed through questions about the financial crisis, the Fed's stimulus efforts and banking regulation, as the Senate Banking Committee weighed her nomination to serve as future head of the Federal Reserve, Thursday.
Videos on Senate Banking, Housing & Urban Affairs Committee |  | Thu Nov 14, 2013
Janet Yellen delivers her opening statement in the Senate confirmation hearing of her nomination to be Chair of the... |
The Federal Reserve is preparing to consider interest rate hikes "on a meeting-by-meeting basis," Fed Chair Janet Yellen told a congressional committee on Tuesday, a subtle shift of emphasis that helps lay the groundwork for the Fed's first rate hike since 2006. In remarks to the Senate Banking Committee, Yellen described how the Fed's rate-setting policy committee will likely proceed in coming months - first by removing the word "patient" in describing its approach to rate hikes, then entering a phase in which rate hikes are possible at any meeting. That approach could open the door to an interest rate increase as early as June, though investors interpreted Yellen's testimony overall as likely indicating a later date for liftoff. Janet Yellen breezed through questions about the financial crisis, the Fed's stimulus efforts and banking regulation, as the Senate Banking Committee weighed her nomination to serve as future head of the Federal Reserve, Thursday.
Videos on Senate Banking, Housing & Urban Affairs Committee | | Thu Nov 14, 2013
Janet Yellen delivers her opening statement in the Senate confirmation hearing of her nomination to be Chair of the... |
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