Yellen: Fed Funds Target Will be Means to Up Rates

The Federal Reserve is unlikely to raise interest rates in June as expected after Janet Yellen said on Tuesday that it would not hike rates for the next few Federal Open Market Committee meetings, Mesirow Financial’s chief economist told CNBC.

Diana Swonk said the chair of the Fed’s Board of Governors is being careful to avoid another taper tantrum, or an adverse market reaction due to unexpected comments from the central bank.

U.S. bond yields spiked in May 2013 after then Fed Chair Ben Bernanke said the central bank could wind down its monetary easing program by the end of the year.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.