A balanced rhetoric from Yellen? - ANZ

Analysts at ANZ explained that Chair Yellen tried to strike a balanced tone in her speech overnight, but was tilted towards the hawkish side. 

Key Quotes:

"Notably, “...we should also be wary of moving too gradually... without further modest increases in the federal funds rate over time, there is a risk that the labor market could eventually become overheated, potentially creating an inflationary problem down the road that might be difficult to overcome without triggering a recession.” In addition, Fed’s Brainard spoke on employment disparities and noted that high-income inequality may have implications for spending."