- The Fed boss leads off her post-policy meeting press conference by saying the new language in the FOMC statement does not represent any policy change.
- The Fed, she says, anticipates no policy action for at least the next two FOMC meetings. The third meeting from today's date is April 28-29. Whether hikes come sooner, faster, or on that date, says Yellen, depends on the incoming data.
- Labor market: It continues to improve, but too many are waiting too long to find jobs, or working part-time, or have given up looking.
- Inflation: The recent large declines in the price of oil will hold down the price level in the short-term.
- ETFs: SHY, BIL, STPP, VGSH, SHV, FLAT, SCHO, DTUS, SST, DTUL, TUZ
- Previously: Employment outlook improves, inflation outlook weakens in Fed projections (Dec. 17, 2014)
- Previously: "Patient" replaces "considerable time" in FOMC statement (Dec. 17, 2014)