Fed speak

Fed speak - latest edition:

Yellen said the central bank has no “mechanical answer” for when to raise rates, and that before doing so, policy makers must be certain the economy is on a solid footing. While her overall view is positive, she said there are still “mixed signals” and “we have in the past seen sort of false dawns.” 

St. Louis Fed President James Bullard said July 17 the Fed may have to raise rates more quickly than planned and that it’s “closer to its macroeconomic targets today than it has been most of the time since 1960.” 

Ex-Fed speak - 

J. Alfred Broaddus, president of the Richmond Fed from 1993 to 2004, said while the risk of getting behind the curve on raising rates is increasing, “this is a different world” with economic data harder to interpret than ever before. “If I were there now I would be conflicted,” Broaddus said. “This is a difficult time and there’s a lot that’s unprecedented here.”