We didn't think new Fed Chair Janet Yellen's admission that "considerable period" meant six months or so warranted the subsequent equity sell-off. It simply confirmed what we already knew, that the first rate hike would be coming in mid-2015. What we found more disconcerting was her attempt to downplay the significance of the explicit fed funds rate projections made by officials.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services