Yellen tried to strike a balanced tone - ANZ

According to analysts at ANZ, Fed Chair Yellen tried to strike a balanced tone in her speech overnight, but was tilted towards the hawkish side.

Key Quotes

“Notably, “…we should also be wary of moving too gradually… without further modest increases in the federal funds rate over time, there is a risk that the labor market could eventually become overheated, potentially creating an inflationary problem down the road that might be difficult to overcome without triggering a recession.” In addition, Fed’s Brainard spoke on employment disparities and noted that high income inequality may have implications for spending.”