People are not sure Yellen will raise rates at the December FOMC meeting. As I read the Jan 2017 fed funds futures price, the market thinks the odds there are 56%.
But why is resolve expressed always as about RAISING rates? I get that inflation rose from the mid-1960s to the very early 1980s, in part because of indifference at the Fed. But guys, that was a while ago.
Can’t you even concede that “resolve” might now involve fighting a different problem? Yellen seems to be showing a great deal of resolve in ignoring the bad advice she is getting from every corner. Pretty tough.