The Trader 

Another peek at the dollar

The Trader

Another peek at the dollar

This week, in an address to the National Association for Business Economics, US Federal Reserve chairman Janet Yellen admitted that perhaps the Fed has "misspecified" its inflation models and "misjudged" key variables such as unemployment and inflation expectations. She and her board of governors have acknowledged the current debate is to whether low inflation is a structural or temporary phenomenon, seeing as their preferred measure, core personal consumption expenditure, has been below their 2 per cent target almost every single month since September 2008.

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