While expecting inflation to gradually move up to the target, Yellen said on Tuesday that she acknowledged the uncertainty surrounding that prediction.
"Many uncertainties attend this assessment, and downward pressures on inflation could prove to be unexpected persistent," Yellen told the National Association for Business Economics.
Posen said the timing of the Fed's next rate hike, whether in December or in March, doesn't matter much, as the debate among Fed policymakers is "how much the low inflation is ongoing."
In his view, the U.S. economy is "pretty far from" the turning point that inflation will take off more rapidly, despite the historically-low unemployment rate.
Over the long term, Posen expressed concern that Trump's nominees for Fed board would be reluctant to intervene in markets and quickly respond to changes in economic conditions.
"If there's a stock market crash, there's a recessionary shock, even if there is a huge fiscal stimulus ... I am worried that...they would be very reluctant to be activists or talk about rules and be slow to respond. So I think there's some danger there," he said.
Compared with potential monetary policy mistakes, Posen was more worried about the Trump administration's attempt to roll back Obama-era financial regulations.
"I am much more worried about Trump's appointees changing financial supervision and financial regulations ... that's where the biggest mistake will come and they have a lot of support in Congress," he said.
【国际英语资讯:Interview: Trumps reshaping of Fed could end up with more dovish policy stance: U.S. econo】相关文章:
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