Yellen said that a period of very loose monetary policy coming to an end
. Federal Reserve Chairman Janet Yellen indicated on Monday that the period of very loose monetary policy coming to an end.
She said that the Fed is moving away from efforts aimed at revitalizing the economy, which suffered as a result of the recession, and is focused on maintaining the growth that has occurred over the past few years. It changes the political stance of the central bank, she said, noting that Fed officials are planning a continuation of the gradual increase in interest rates if the economic situation starts to deteriorate.
"Whereas before we push on the accelerator, trying to squeeze out the maximum strength of the economy, and now (we) give the economy the possibility to move by inertia, measured, - she said. - To ask her some speed, but not so much to press on the accelerator".
This means that the key short-term interest rates will continue to rise to its long-term average, Yellen said.
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