Nothing stands out from Yellen’s speech. If you were looking for a hint on rates — over any timeframe — there isn’t any comment to dwell on.
If you were looking for a hint on the present or future course of the economy, there was nothing new.
Perhaps there was a slight tilt to the dovish side because there was no urgency to react to data and she’s more worried about downside risks to inflation but that’s hardly surprising.
Up next is the Fed’s Beige Book at 2 pm ET (1800 GMT). Expect lots of lamenting bad weather but the key will be comments on how the economy has done since the weather improved.
