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Stock Market Investors Buy into Fed Predictions
Last Thursday night, Fed Chair Yellen and former Fed Chairs Ben Bernanke, Alan Greenspan and Paul Volcker took part in a panel titled, When the Federal Reserve Speaks. the World Listens. Fed Chair Yellen said that some slack remains in the U.S. labor market. She said that the Federal Open Market Committee FOMC is not trying to overshoot its inflation target of 2 but that 2 is a goal and not a ceiling. As of Friday, Fed fund futures are showing just a 51 chance of another 25-basis-point rate hike by the end of the December FOMC meeting, according to the CME website.
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