March 3, 2017 / 7:17 PM / 3 years ago

Yellen says rate plans based on current conditions, not possible Trump policy

Federal Reserve Chair Janet Yellen addresses the Executives Club of Chicago in Chicago, Illinois, U.S., March 3, 2017. REUTERS/Kamil Krzaczynski

CHICAGO (Reuters) - The Federal Reserve’s interest rate plans are responding largely to U.S. economic data at this point, not adapting to any plans that the administration of President Donald Trump may or may not adopt, Fed Chair Janet Yellen said on Friday.

“At this point there is a great deal of uncertainty about just what policy changes will be put into effect...We should be patient to see what happens,” Yellen said. Comments pointing to a March rate increase and more hikes to come this year reflect “the appropriate evolution of policy based on the trend you see in our economy right now...There is nothing...that would be a response to impending policy.”

Reporting by Howard Schneider; Editing by Chizu Nomiyama

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