Fed’s Yellen speech: Fiscal policy uncertainty is currently quite high

Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, is giving her remarks before the Senate Banking Committee with the key quotes, via Reuters, found below:

  • Fiscal policy uncertainty is currently quite high
  • I expect rise in long-term market rates during run-off
  • I agree we could find ways to ‘reduce the burden’ of Volcker Rule 

Key Notes:

Fed’s Yellen testimony: Balance sheet reduction will likely begin this year

In her testimony, Yellen noted that provided the economy evolves broadly as anticipated, the Committee will likely begin to implement the program this year. Read more

EUR/USD spikes, then retreats sharply on Yellen headlines

The EUR/USD pair quickly reversed a knee-jerk fall and spiked over 50-pips from lows following the release of the text of the Fed Chair Janet Yellen’s upcoming testimony.Read more

About Janet Yellen

Janet L. Yellen took office as Chair of the Board of Governors of the Federal Reserve System on February 3, 2014, for a four-year term ending February 3, 2018. Dr. Yellen also serves as Chairman of the Federal Open Market Committee, the System’s principal monetary policymaking body.

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