Janet Yellen speech: Monetary policy not on a pre-set course

Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, is delivering her remarks on the monetary policy, with key quotes (via LiveSquawk) found below.

Monetary policy not on a pre-set course, economic outlook highly uncertain.

Will do utmost to ensure smooth transition to new chair Powell.

Fed is prepared to resume reinvestments in maturing securities if econ. outlook warranted this.

Key notes

Fed hikes and threatens more - ING.

James Knightley, Senior Economist at ING, explains that the Fed “dots” show a strong consensus for 3 hikes next year.

Buy the Fact: Gold jumps after Fed rate hike.

Gold (XAU/USD) jumped to a one-week high of $1255.44 after the Fed hiked rates by 25 basis points as expected and kept the interest rate dot plot unchanged.

About Janet Yellen

Janet L. Yellen took office as Chair of the Board of Governors of the Federal Reserve System on February 3, 2014, for a four-year term ending February 3, 2018. Dr. Yellen also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body.