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Federal Reserve Chair Janet Yellen said Wednesday the Fed's first rate increase since 2006 marks the "end of an extraordinary seven-year period" of easy-money policy begun in the Great Recession.
But Yellen stressed that it was "important not to overblow the significance" of the quarter-point rate increase, saying Fed policy will remain accommodative over the medium term.
Federal Reserve Chair Janet Yellen said Wednesday the Fed’s first rate increase since 2006 marks the “end of an extraordinary seven-year period” of easy-money policy begun in the Great Recession.
But Yellen stressed that it was “important not to overblow the significance” of the quarter-point rate increase, saying Fed policy will remain accommodative over the medium term.
