FXStreet (Córdoba) - Fed Chairwoman Janet Yellen added nothing really new at her long-awaited Jackson Hole speech today, as she sounded "balanced" and "non-committal".

Among main remarks she stated that rates might be raised sooner if there is a faster recovery than anticipated in the labor market or inflation moves more rapidly. However she also said rates could also remain near zero for longer than currently anticipated if economic performance disappoints.

She didn't really gave much of a clue over when interest rates will go up. "Monetary policy is not on a preset path", Yellen reiterated. So in summary, rates hikes will be data-dependant, nothing new from Ms. Yellen.

Federal Reserve Chair speech was focused on employment as expected. She stressed the difficulty in gauging labor-market slack and concluded stating that many of the labor market issues will be at the center of FOMC discussions for some time to come.

"Yellen gave the market exactly what they expected. She was quite dovish and made few illusions to the timing of any future rate hikes. Now that the event is out of the way, the trend that has been in place is reasserting itself", said Jamie Coleman, Editor at FXBeat. "Doves being dovish is not news...Markets expected Yellen to be dovish so the dollar is not suffering".

Related Articles
  1. Investing News

    China’s Forex Reserves Dropped Significantly

    China’s forex​ reserves dropped by a record $93.9 billion at the end of August to $3.56 trillion because the Central Bank has been selling dollars to provide a cushion to the falling yuan​
  2. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  3. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  4. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  5. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  6. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  7. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  8. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  9. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  10. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.

You May Also Like

Trading Center