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Address by Janet Yellen, Head of the US Federal Reserve System (14.12.2016)

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U.S. Federal Reserve met the expectations of the vast majority of analysts, experts and traders. At the meeting, which took place on December 14, it was decided to raise the rate by 0.25 percentage points to 0.5-0.75 per cent per annum.
Janet Yellen, the head of the Federal Reserve Board, speaking at the press conference, noted the significant progress in achieving the goals of the country’s economy. First of all, it concerns the improvement of the labor market condition and growth of consumer prices.
Yellen also said that the base rate may be raised three times in 2017. Such a need may arise in the process of implementing Donald Trump’s economic programme. The Fed expects the rate to rise to 1.375 percent by the end of next year.
Janet Yellen said she still insists on the independence of the Fed and therefore does not intend to participate in discussions on Trump and give him any advice.
She also noted that the Fed does not expect any serious consequences for the markets of the decision to raise the rate.
The participants of the press conference asked a question about the possible change of the head of the Federal Reserve System by Trump. Janet Yellen found it difficult to answer.

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