The Fed has maintained interest rates amid speculation of a 25 bps increase. Yellen argued that the economy has more room to run before monetary policy is tightened.
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Yellen Rebuffs Pressure to Hike as Fed Gives Economy Room to Run
The decision to stand pat drew dissents from three voting members of the Federal Open Market Committee -- the first time that’s happened since December 2014. It also comes on the heels of an accusation by Republican Party presidential nominee Donald Trump that Yellen is deliberately keeping rates low to help make President Barack Obama look good in his final year in office. When asked about such accusations, Yellen repeatedly disputed that political considerations played any role in Fed decisions. “We do not discuss politics at our meetings and we do not take politics into account in our decisions,” she said.
