Wait, Yellen’s speaking again? Fed chief to speak Thursday


If an hour of Federal Reserve Chairwoman Janet Yellen answering questions from the press wasn’t enough, she’s due to speak on Thursday as well.

At 8:45 a.m. Eastern, Yellen will be talking on the issue of “asset building for low and middle income households.” It’s an important issue recently highlighted in the Fed’s survey on consumer finances.

The survey found the median value of assets for families dropped sharply  from the 2007 peak, falling to an average of $177,900 last year from $248,700. For the middle 20% of families, the median value of assets dropped to $140,400 in 2013 from $206,000, and those assets are overwhelmingly in real estate, with the primary residence accounting for 89% of the total. So expect a discussion from Yellen on the housing market, which has seen an increase in prices but a disappointing number of transactions.

One thing there won’t be is questions — Yellen will deliver her remarks in a prerecorded video.

– Steve Goldstein



Please enter your comment!
Please enter your name here