Yesterday, Janet Yellen spoke in front of Congressional leaders amid the release of the US GDP data, which as expected, climbed to 3-year high. The end of Yellen’s mandate is near as the current Fed Chair is going to be replaced next year by Jerome Powell.
Janet Yellen said in her speech that the central bank does not want to “let growth get out of hands”. The Fed certainly prefers the debt to get out of hands. That was a very ironic statement from the US private bank’s chair. Yellen also mentioned that while she did not want to promise a rate hike in December, she will continue to act towards a normalization of the monetary policy. Markets are pricing in a rate hike for December.