Fed’s Yellen: managing market expectations key to QE
Janet Yellen, the vice-chair of the Federal Reserve, on Friday said the perceived timing and pace of the unwinding in asset purchases in markets was as important for financial conditions as the policies themselves.
At the US Monetary Policy Forum in New York, Yellen said: "Financial conditions depend on market expectations not only concerning the amount of the Federal Open Market Committee's purchases, but also concerning the anticipated timing and pace of the eventual unwinding of those
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