Yellen: The National Debt 'Should Keep People Awake at Night'
Yellen: The National Debt 'Should Keep People Awake at Night'
Federal Reserve Chair Janet Yellen testifies on the U.S. economic outlook before the Congressional Joint Economic Committee on Capitol Hill
29 November, 2017, 23:27
U.S. Federal Reserve Chair Janet Yellen told Congress on November 29 that economic growth has picked up this year, though wage growth remains relatively modest and inflation is still short of the central bank's 2 percent target.
"17 million more Americans are employed now than eight years ago", Yellen, who became a top Fed official in 2010, said in prepared remarks. The Fed slashed rates to 0% in 2008 in an effort to boost the collapsed housing market and economy.
In Wednesday's prepared testimony to the Joint Economic Committee, Ms. Yellen repeated her view that recent low readings in consumer price growth "likely reflect transitory factors" and that as those factors fade, inflation will stabilize around the 2% target. Some policymakers feel the Fed should not raise rates until inflation accelerates.
Crude oil futures fell Wedesday despite data showing another signficant decline in US oil stockpiles. 1 meeting showed that while the officials generally agreed that it would soon be time for another rate increase, they were struggling to understand what was happening with inflation.
Yellen, as has been her style over four years, turned even basic queries into disquisitions on the underlying dynamics of inflation and the labor force.
WASHINGTON-Economic activity expanded at a "modest to moderate pace" in recent weeks amid signs of rising prices and ongoing strength in labor markets, a Federal Reserve report said Wednesday.
On Wednesday, Yellen added that the unemployment rate fell to 4.1%, the lowest level since 2000, and well below the peak of unemployment, 10%, in 2009.
In what is likely her final address Wednesday on Capitol Hill as head of the central bank, Yellen gave mostly positive reviews to economic performance.
Excluding energy and food categories, the Fed's preferred inflation gauge rose 1.3% in September from a year earlier, below the central bank's 2% target. "Although asset valuations are high by historical standards, overall vulnerabilities in the financial sector appear moderate, as the banking system is well capitalised and broad measures of leverage and credit growth remain contained", she said.
Asked whether the Fed would raise interest rates at its meeting next month, Yellen declined to offer clues about her preference, saying only that it's important the central bank maintain a gradual approach to tightening to prevent the economy from overheating.
While the expectations are low, Omari pinned more hope on the anticipated talks in the Russian city of Sochi next year. Meri, meanwhile, said the eighth round of talks, which started on Wednesday, will be a "failure".
Liu Yifei has been cast as the title character for Disney's upcoming live action remake, which is still set to debut next year. The studio was particularly looking for an ethnically Chinese young woman for cultural accuracy.
The defense argued that Yanez saw Castile's hand on the gun, which he had a permit to carry, the AP said. Anthony City Council voted unanimously to award Reynolds $675,000 in a closed-door, private meeting.
For perhaps the first time , the rapper admits that the two were indeed working on a joint album . "And so you walk away". He quoted a Kanye West line from his song " Never Let Me Down , " saying racism is still rife in America.
The OSU legend and leader of the Fiesta Bowl Beavers has been toiling around the assistant coaching ranks for a number of years. Cory Hall served as the interim coach this year after Gary Andersen was sacked in October.
BuzzFeed has attracted investments including a Dollars 400 million round from NBCUniversal at a valuation of some USD 1.7 billion. At the same time, BuzzFeed president Greg Coleman will depart his post, but remain on board as a company adviser.
The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.05. (NYSE:PEP). Zacks Investment Research downgraded shares of Pepsico from a "buy" rating to a "hold" rating in a report on Monday, August 28th.
Almost a decade after the Marvel Cinematic Universe was born, studio boss Kevin Feige hinted that this was it: the grand finale. On Wednesday, the first trailer confirmed the scale of the plot, adding that next year "all roads lead to Thanos".
The union estimates about 15,000 flights between December 17 and December 31 are now not assigned pilots, Bloomberg News reports . The Allied Pilots Association is arguing that the proposed solution violates its labor contract.
Lexus RX L 7-seater revealed at LA Motor Show
However, the RX L does have tri-zone automatic climate control with heating and air conditioning vents for the third row. Lexus says the RX 350L will be available in January 2018, while the RX 450hL will go on sale in the spring of 2018.
CEREAL KILLER: No Mario Breakfast for Brits!
Are you going to pick up a box? Also, shout out to Cerealously for capturing the cereal blogging niche we did not know we needed. Kellogg's and Nintendo have teamed up for Super Mario Cereal, a sugary breakfast cereal created to promote Super Mario Odyssey .
BMW introduces the i8 Roadster, a hot new plug-in hybrid
BMW has also upgraded the battery pack for both new models, raising capacity to 11.6kWh up from the previous i8's 7.1kWh. The unladen weight of the i8 Roadster stands at 3513 lbs., making it some 132 lbs. heavier than the Coupe.
Nasdaq plans to launch Bitcoin futures in first half 2018
The move appears to be a change of tune for Nasdaq, which has been less bullish on cryptocurrency than other Wall Street firms. Up until now, institutional investors stayed away from Bitcoin given the volatility and security risks that surround it.
Beyonce photo the most-liked Instagram photo of 2017
Ronaldo, who scored the most popular video on Instagram , also gained the most followers within 2017 with 30 million . The soccer star and his twins received 8,258,154 likes and proved that Instagram has a thing for twins.