Yellen: Faster progress on goals may bring rate rises sooner via ForexLive

• FOMC sees significant under use of labour resources
• There is no simple recipe for appropriate policy

I'll add the remaining comments but there's nothing shocking here in the first headlines, even with the rate rise sooner comment. USD/JPY pushed to 103.94. She's even quoted some lines straight from the FOMC statement

• Still unclear on degree of level of labour slack and how quickly it will disappear
• Gauging labour market slack needs to be more nuanced
• Repeats that QE will finish in October
• Slower progress on goals may delay rate increase
• Sees room for wage increases that don't boost inflation
• Tightening policy too soon as inflation moves towards 2% might prevent labour market from fully recovering
• Emphasis shifting to determining what labour conditions would bring about less accommodation

posted via ForexLive