fed chair janet yellen has started her news conference announcing that the reserve is going to keep key interest rates the same. let s listen in. the first increase in the federal funds rate will be appropriate when it has seen some further improvement in the labor market and is reasonably confident that inflation will move back to its 2% objective over the medium term. it remains the case that the committee will determine the timing of the initial increase based on its assessment of the implications of incoming information for the economic outlook. i will note that the importance of the initial increase should not be overstated. the stance of monetary policy will likely remain highly accomodative for quite some time after the initial increase in the federal funds rate in order to support continued progress toward our objectives of maximum employment and 2% inplags.
even someone who won a nobel prize for economics wasn t good enough to be on the board of governors of the federal reserve system, according to the republicans. so peter diamond with drew his nomination. if you go to the website of the federal reserve system you will find its mission statement. first up, conducting the nation s monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates. pursuit of maximum employment. that sounds good about now. among the areas of expertise a professor peter diamond, nobel prize winning economist is labor markets. employment, and, yes, as harry reid said just there, professor diamond had to withdraw his nomination to be a member of the federal reserve board of governors this year because republicans in the senate refused to allow a vote on his
even someone who won a nobel prize for economics wasn t good enough to be on the board of governors of the federal reserve system, according to the republicans. so peter diamond with drew his nomination. if you go to the website of the federal reserve system you will find its mission statement. first up, conducting the nation s monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates. pursuit of maximum employment. that sounds good about now. among the areas of expertise a professor peter diamond, nobel prize winning economist is labor markets. employment, and, yes, as harry reid said just there, professor diamond had to withdraw his nomination to be a member of the federal reserve board of governors this year because republicans in the senate refused to allow a vote on his candidacy, calling him
even someone who won a nobel prize for economics wasn t good enough to be on the board of governors of the federal reserve system, according to the republicans. so peter diamond withdrew his nomination. if you go to the website of the federal reserve system you will find its mission statement. first up, conducting the nation s monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates. pursuit of maximum employment. that sounds good about now. among the areas of expertise a professor peter diamond, nobel prize winning economist is labor markets. employment, and, yes, as harry reid said just there, professor diamond had to withdraw his nomination to be a member of the federal reserve board of governors this year because republicans in the senate refused to allow a vote on his
federal funds rate is appropriate in light of the solid progress we have seen toward our goals of maximum employment and 2% inflation. we continue to expect that the evolution of the economy will warrant only gradual increases in the federal funds rate over time. stocks declined on the news that the fed may make three more rate hikes next year. the dow dropped 119, the s&p 500 was off 18, the nasdaq fell 27. now joining us from our sister network, fox business network s melissa francis. so why did the rate hike or the talk of more rate hikes spook the market today? yeah, it was really about that idea of janet yellen saying that we might be raising rates three more times in the year. investors had expected the federal reserve to say that maybe it would be two more times, but, you know, i would caution investors out there, they promised a number of rate hikes within a year in the past