Chair of the US Federal Reserve Janet Yellen announced she will step down from this role on Monday and on Tuesday was addressing students at New York University Stern School of Business. Insisting that rates should rise gradually as inflation would do so too, she noted, ‘I will say I am very uncertain about this. My colleagues and I are not certain it is transitory, and we are monitoring [low] inflation very closely. It may be that there is something more endemic going on or long-lasting’.
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