Janet Yellen and the four big uncertainties

When Federal Reserve Chair Janet Yellen spoke in Philadelphia on Monday , a lot of people listened for clues on when the Fed would next raise interest rates. (She didn’t give many, though nothing she said changed the view, now widespread, that the Fed won’t raise rates next week.) Less attention was paid to a section of Ms. Yellen’s speech highlighting “ four areas of uncertainty [that] seem particularly salient at present .” It’s a list worth pondering because answers to the simple questions she posed will determine whether this......(read more)

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