Yellen Speech: If Fed view changes on inflation, it would require an alteration in monetary policy

Janet Yellen, Chairwoman of the Federal Reserve, is responding to questions from the press, with key headlines, via Reuters, found below:

• Low inflation this year is more broad-based than just due to certain factors
• Resumption of forward guidance would also be available if economy materially weakened
• Fed needs to figure out whether factors that lowered inflation are transitory or persistent
• If fed view changes on inflation, it would require an alteration in monetary policy

Key headlines:

USD/JPY skyrockets through 112.00 as market re-adjusts Fed rate hikes pricing

The US Dollar has found an incredibly strong commitment to re-adjust its value into much higher levels across the board as a result of a more hawkish FOMC. USD/JPY saw an initial spike towards 112.00, followed by further follow through to touch a fresh daily high of 112.37.

DXY +92%: shorts repositioning in a major way on bullish Yellen / hawkish FOMC

Bulls piled into the greenback and lifted the index right up to 92.45 the high where it now consolidates during Yellen's presser on a relatively hawkish outcome in today's FOMC decision and statement. 

About Janet Yellen

Janet L. Yellen took office as Chair of the Board of Governors of the Federal Reserve System on February 3, 2014, for a four-year term ending February 3, 2018. Dr. Yellen also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body.