Market Insider

Traders hoped for a more interesting Yellen, got same old

Fed's data dependency

Fed Chair Janet Yellen stuck to her script Friday, even though traders had hoped a jump in consumer prices would force the central banker to give a nod to the improved inflation data. (Tweet This)

Yellen reiterated comments that the Fed is on track to raise rates this year and that inflation will ultimately move to 2 percent as the economy strengthens.

The consumer price index, excluding energy and food, rose 0.3 percent, compared to expectations for 0.2 percent. Headline CPI gained 0.1 percent as expected, meaning overall prices actually fell 0.2 percent year over year. Core prices, however, rose 1.8 percent, closer to the Fed's inflation target.