Investing.com – Federal Reserve Chair Janet Yellen said Monday, inflation lagged behind the Federal Reserve target of 2% but insisted that the economy is ‘pretty healthy’.
In a Q&A session on Monday, Fed Chair Janet Yellen maintained her previous view that rate hikes should be gradual in order to allow “the economy to kind of coast” and prevent a situation, in which the economy overheats.
In terms of economic growth, Ms. Yellen expressed slight disappointment about the pace of economic growth, which has averaged 2% throughout the recovery but added that the average pace of growth has “generated a lot jobs” and contributed to an improving labor market.
Investing.com’s Fed Rate monitor tool, was little changed following Ms. Yellen's comments, as traders' expectations of a June rate hike remained unchanged at 55.9%.
Ms. Yellen, comments had little impact on markets, as the dollar inched lower, while gold attempted to move into positive territory.
The U.S. dollar index inched lower to 100.95.
Gold futures traded flat at $1,256.40, while Treasury yields remained unchanged at 2.366.