Fed's Yellen continues to answer questions in Congress:
- There are some margins of slack in the jobs market but not many
- U6 rate is higher than she would've expected
- Rate rises will be gradual after liftoff
The natural inclination today is to push the focus forward towards the Fed decision but I'm not even sure there is much drama in it. The Fed will hike a quarter point, emphasize that it's data dependent and not commit to anything else.
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