On Thursday, September 24, US Federal Reserve System Chairwoman Janet Yellen delivered a speech in the University of Massachusetts. The speech produced sharp reaction of the market. Yellen’s health was also among the market concerns.
The speech lasted for 60 minutes and at the end of it, Yellen paused and coughed several times. She received medical attention after the speech.
Due to the long report carried out under the bright spotlights, Yellen became dehydrated, but felt better afterwards and did not plan to change her working schedule, the Fed informed.
Besides health of the Fed Chairperson, the provided information concerned the market as well. The dynamic of S&P500 points to discontent among market participants.
According to Janet Yellen, to raise interest rates, some economic readings should be reached.
"Most of my colleagues and I anticipate that it will likely be appropriate to raise the target range for the federal funds rate sometime this year," she said.
The central bank should not postpone policy tightening and further steps in changing the course are more important than the first ones, Yellen added.
The Fed chair also pointed out that international financial and economic events and slowdown in growth pose new risks to the country’s economy and hinder US economic activity.
In her opinion, inflation can near the 2% level targeted by the Fed.
