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the president of the federal Reserve of the United States, Janet Yellen, the June 20, 2016 in Sendai, in northern Japan (afp_tickers)
Some data for “disturbing” employment and a large “uncertainty”: the president of the Federal Reserve (Fed), Janet Yellen, avoided Monday commit to an increase in interest rates, a week meeting of the US central bank.
in his last public intervention, in late May, Yellen had announced yet another rise “in the coming months” after the adopted in December, consecutive to a period of seven year policy of zero rate.
since then, the report on labor market developments in May, released on Friday showing an unexpected weakness, falling to its lowest level of job creation since September 2010 .
“this recent report on employment was generally disturbing,” admitted the head of the Fed in a speech in Philadelphia (east) speech.
“These signs of slowdown in the job creation requires close supervision, “he added, noting that the data published last Friday encourage” new questions “.
full employment is part of the objectives assigned to the US Federal Reserve, which have guarantees enough on improving the labor market to continue to normalize its monetary policy.
Yellen downplayed however the influence of employment data, stating that it should not agree “much importance” to the monthly figures often subject to major revisions and the evolution of the US labor market remains “globally positive”.
“I have good reason to believe that the positive forces that tend to employment growth and higher inflation will continue surpassing the negative forces, “he said
-. the risks of ‘Brexit’ –
Yellen acknowledged that this counter-performance of employment reflects a” considerable uncertainty “about the US economy and global levels.
in this regard, the head of the US central bank warned against the consequences of an eventual departure of Britain from the European Union, which will be submitted to a referendum on June 23, as it could alarm investors and have “important implications” economic.
also Evoking the slowdown of the Chinese economy, low US productivity and the level is still low inflation, Yellen said that cocktail of uncertainty weighs on the guidelines monetary Fed.
in view of the meeting of the monetary Policy Committee of the Fed, on 15 and 16 June, Yellen reiterated that a gradual rise in rates remains “appropriate”, refusing however say when the decision could be taken.
“She did not give any precise element (…). In fact, had several possible options, “said Jim O’Sullivan, cabinet High Frequency Economics, which like other analysts, expected that the guidelines were maintained rates at their current level from 0.25 to 0.50%.
Given the continued economic uncertainty, Yellen admitted: “My colleagues and I must take that into account as well as other factors hereinafter”
Asked about the possible risk. a ‘crash’ economic if it came to the White House, the Republican candidate Donald Trump, who promised reemplazarla- the head of the Fed, democrat, he replied: “I’m sorry but I have nothing to say about it,”
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