The Federal Reserve is still on course to raise interest rates this year, as delays could mean the central bank is forced to hike more rapidly than it is safe later, its chairman has said.
Janet Yellen indicated that delaying increases in interest rates would mean that the central bank could "have to do so more rapidly" if caught behind the curve. In her testimony before the Senate Committee on Banking on Wednesday, she said that if the economy progresses as expect, "economic conditions would make it appropriate at some point this year to raise" the Fed's key interest rate. ...Ms Yellen said: "The situation in Greece remains difficult. And China continues to grapple with the challenges posed by high debt, weak property markets and volatile financial conditions." Mr Page said that the central bank would most likely start to raise its rates in September, but that it is not expect to clearly signal this until closer to that date. The Fed chairman remarked that "economic growth abroad could also pick up more quickly than observers generally anticipate, providing additional support for US economic activity". Yellen has no intention of raising rates, as to do so would implode the asset bubbles and Ponzi schemes that allow the most efficient looting and asset stripping of the 99% by the Fed's oligarch accomplices. As long as ZIRP and QE can be maintained, savers and pensioners will be forced into the Wall Street-Federal Reserve Rigged Speculative Casino, where they can be fleeced at will by Yellen's Wall Street co-conspirators. So ignore the incessant droning by Yellen & other Fed mouthpieces about raising rates - it will not happen unless and until Yellen has to invervene to stop a dollar crash. The Fed's War on Savers and the responsible has no end in sight.
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