FINANCIAL TIMES: The US Federal Reserve played down the risk of higher inflation on Wednesday as it cut the monthly pace of its bond buying to $35bn…
“The recent evidence we have seen, abstracting from the noise, suggests that we are moving back gradually over time toward our 2 per cent objective and I see things roughly in line with where we expected inflation to be,” said Janet Yellen, who gave an assured performance in her second press conference as Fed chairwoman.
Playing down concerns about financial stability, Ms Yellen said she did not think the valuation of the stock market was outside historical norms… (more)
Why is it we have been told of this great recovery for going on 6 years now and yet we see little recovery? Why is it banks are threatening to charge people for holding their deposits? This sure seems like a repeating “say it and things might get better” syndrome.