Posted on 02/14/2017 7:51:24 AM PST by John W
Federal Reserve chair Janet Yellen, noting uncertainty in the US economic outlook, says the central bank still sees a “gradual” pace of rate increases despite unknown fiscal policy.
“It is too early to know what policy changes will be put in place or how their economic effects will unfold. While it is not my intention to opine on specific tax or spending proposals, I would point to the importance of improving the pace of longer-run economic growth and raising American living standards with policies aimed at improving productivity,” Yellen said. “I would also hope that fiscal policy changes will be consistent with putting U.S. fiscal accounts on a sustainable trajectory.”
Yellen’s comments on economic policy come as she begins two days of testimony on Capitol Hill, delivering prepared remarks and her semi-annual monetary policy report to the Senate Banking Committee today.
Her cautious, yet generally positive, remarks follow a slew of improving data, including better-than-expected ISM manufacturing growth, strong consumer confidence reports and solid payroll gains. The unemployment rate has hovered around 5% for the past year—a level many economists consider to be near full employment. However, output growth slowed in the fourth quarter, with real GDP estimated to have increased only 1.9%.
(Excerpt) Read more at finance.yahoo.com ...
AGENDA 21 CODE WORD: SUSTAINABLE
Oh yes.....I’m gonna rush right out and take a big heaping double order of “Put the US on a Sustainable Path” from someone nominated by Obama to control our economy. What the hell does that even mean?
Sh!t. I could have said this for a lot less damn money than she’s getting.
ALL OBAMA PLANTS need to go!
Trump to Yellen-
“Stop Yellin’, you’re fired.”
Dismantle the private bank system. Jail the criminals.
Translation: watch the budget deficits.
Trump needs to put Yellen on a path toward some other job. Get her out of there.
The real job of the FOMC is to suppress wages. They incorrectly blame wage increases for inflation.
Yep....that’s the ‘sustainable path’ ticket right there! :0)
Good grief, where do these imbeciles come from?
We don’t need no steenkin sustainable.
They incorrectly blame wage increases for inflation.
There’s really only one inflation, and that’s the inflation caused by currency devaluation. Currency devaluation in peacetime is caused by the crooks in government spending and stealing too much of the taxpayer’s money.
Yellen is advocating sustainable fiscal policies? Good. I guess that means she’s all for a Trump plan that cuts spending to reduce and ultimately eliminate the deficit combined with tax cuts and elimination of regulations to finally get the economy growing again.
There’s really only one inflation, and that’s the inflation caused by currency devaluation.
So, maybe I shouldn’t use the words “price inflation” and should just say that if you increase wages, the price of goods and services will go up accordingly.
Yellen would be completely behind any plan that reduces the deficit. Google it. She was cautioning against the deficits run up by Congress back when she ran the San Francisco Fed.
What President Trump has accomplished in only 3 weeks is nothing short of amazing !
All of a sudden everyone in Washington cares what the President does.
The whole town is bursting with energy!
Almost overnight they have rediscovered their ethics and enthusiasm; their concern about the law, the country and the economy.
All the stuff they forgot about for the last eight years is now filling their lives!
Sustainable: meaning 1% annual growth.
Trump to Yellen: I have not gotten around to rattling your cage. So shut up and wait your turn.
If you can produce 2% more goods and services, there is no reason why a 1% increase in wages should increase prices.
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