Is Never Good For You?
Bernanke: So when should we start tightening rates?
Yellen: How about Never? Is Never Good For You?
Bernanke: Yep, I think never works.
Yep, that's responsibility. Keeping an easy money policy in place to solve a crisis that was formed by an easy money policy.... nice.
Fed’s Yellen Says Too Soon to Raise Interest Rates (Update1)
By Vivien Lou Chen
March 23 (Bloomberg) -- Federal Reserve Bank of San Francisco President Janet Yellen said it’s too soon to raise interest rates, and she discounted concerns record budget deficits might fuel inflation. “I don’t believe this is yet the time to be tightening monetary policy,” Yellen said in the text of a speech today in Los Angeles. “But as recovery takes firm root and economic output moves toward its potential, a time will come when it is appropriate to boost short-term interest rates.” Yellen reaffirmed policy makers’ intent to keep the benchmark interest rate near zero for an “extended period” as they determine whether the economy is strong enough to withdraw unprecedented stimulus. She called the pledge, reiterated by the Fed last week, “appropriate” and said the U.S. budget deficit should improve in the next few years as the economy recovers.