Federal Reserve

Yellen: Expects any spillover from weakening Russian economy would be 'small'

Yellen surprised by weak housing recovery
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Yellen surprised by weak housing recovery
Yellen addresses potential Russian spillover
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Yellen addresses potential Russian spillover
Yellen: Policy data dependent
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Yellen: Policy data dependent
Yellen: Not anticipating overshoot of 2% objective
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Yellen: Not anticipating overshoot of 2% objective
Yellen: Oil price decline likely net positive
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Yellen: Oil price decline likely net positive
Yellen: Rate hike unlikely for 2 meetings
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Yellen: Rate hike unlikely for 2 meetings
Yellen: Oil moves have transitory effects on inflation
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Yellen: Oil moves have transitory effects on inflation
Fed Chair Yellen: New language not policy change
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Fed Chair Yellen: New language not policy change
Yellen: Normalization unlikely 'next couple meetings'
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Yellen: Normalization unlikely 'next couple meetings'

The Fed is unlikely to start its rate hike process for "at least the next couple of meetings," Fed Chair Janet Yellen said on Wednesday.

Yellen is holding her last news conference of 2014, with all eyes on the central bank's plan for rate hikes next year.

The Fed surprised some Wednesday by leaving the phrase "considerable time" in its statement, but as a reference to the timing of rate hikes rather than a policy.

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