Chair Yellen’s final press conference was a fitting swan song for the Federal Reserve’s first female leader and the one to shut the door on the institution’s crisis era. In the broad strokes, it went as planned: the Fed delivered a rate hike and some predictable changes to its economic projections. In the press conference, Yellen lauded her successor Jerome Powell, declared satisfaction with progress in the economy, expressed gratitude for the privilege to serve, and mostly dodged questions on the looming tax bill. It wasn’t a victory lap, but it was about as graceful an exit as anyone carrying a 10-bound binder of briefing notes is likely to muster.
What The Fed Did
What It Means
What Comes Next
As iCIMS’ former chief economist, Josh Wright led a team of data scientists in analyzing emerging trends in the U.S. labor market. With publications ranging from academic journals to national media, Wright previously served as a U.S. economist with Bloomberg L.P., and was a staff researcher at the Federal Reserve.