As you know, last week the Federal Open Market Committee (FOMC) changed its forward guidance pertaining to the federal funds rate.
This is how Yellen began her speech to a research conference sponsored by the Federal Reserve Bank of San Francisco on March 27.
With continued improvement in economic conditions, an increase in the target range for that rate may well be warranted later this year.
The speech titled Normalizing Monetary Policy: Prospects and Perspectives, was primarily used as a way to provide talking points around the Fed's change in forward guidance.
An Aggressive Change In Fo...More