Fed Minutes Suggest Yellen Made the Difference in ‘Close Call’
- Fed chair has staked out argument over labor market slack
- December remains base case for next interest-rate hike
The Big Takeaways From the Fed Minutes
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Divided in their views over the labor market, most Federal Reserve officials last month ultimately listened to Chair Janet Yellen’s argument for holding off on a rate hike, for now.
“A growing number of committee members are pulling in the direction of hiking, so it’s becoming increasingly harder for Yellen to hold them back,” said Roberto Perli, partner at Cornerstone Macro LLC in Washington and a former Fed economist.