Singapore Stock Market News

Sep14 FOMC: what's next?

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Publish date: Thu, 18 Sep 2014, 12:50 PM
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- FOMC's stance: dovish or hawkish or both?

While the FOMC statement retained the "considerable time" phrase, suggesting that policymakers were in no immediate hurry to move up the timeline for the first rate hike, nevertheless there were also a few caveats to take note of. Essentially Yellen's focus is still on the labor market, which she described as "yet to recover", and complemented by the subdued inflationary environment ("inflation has been running below the committee's 2 percent objective"). She also stressed no "mechanical interpretation" of the considerable time phrase and reiterated it is "data-dependent", which is not new either.
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