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The Fed: Yellen not worried about surge of inflation

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Federal Reserve Chairwoman Janet Yellen said the central bank should not follow a simple policy rule.

Signs of overheating in the broader economy are “scarce” at the moment and risks are small that such conditions could suddenly emerge, said Federal Reserve Chairwoman Janet Yellen on Thursday, signaling she saw no reason to rapidly raise interest rates.

“Even if the labor market is not overheated currently, one might worry that overheating could rapidly emerge as labor market conditions strengthen further, causing inflation to surge. I consider this unlikely for several reasons,” Yellen said in a speech at the Stanford Institute for Economic Policy Research.

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