Yellen: rate-hike is coming but not immediately

Janet Yellen, number one of the Federal Reserve, said during the symposium in Jackson Hole, which rate-hike will be if the macro data should confirm the outlook prepared by the Fed. Therefore she has opened the doors to the long-awaited increase for interest rates, but did not announce the date.

The Chair of the Fed left no doubt to be reasonably satisfied with the economic developments. "If the growth was not fast, was sufficient to generate further improvements in the labor market," she pointed out, that is, driving out the concerns that had held back the hands of the Central Bank in the first half of the year when GDP up by 1 % – the second-quarter performance was yesterday revised downward to 1.1% from 1.2% – and a slowdown in job creation had been added to global uncertainties such Brexit and the Chinese slowdown.

"We expect moderate growth, further strength in employment and inflation to rise to 2% in the coming years," she added.

The elections for the White House and Congress next November 8 lead many traders to imagine that, after all, the Fed wants to avoid excessive risk before that date. "In the end I do not think there is really very new," was the terse comment of Mark Grant, Hilltop Securities, in response to the Yellen' speech.

The euro closed in moderate decline to $ 1.1264 after the intervention of Yellen. Positive results in the European stock exchanges: Frankfurt gained 0.55%, 0.8% Paris, London 0.31%, Milan 0.8%.

After a day of Wall Street closed with the Dow Jones lost 0.28% to 18,396.57 points, while the Nasdaq is positive and earns 0.13% to 5218.92 points. Down even the S & P 500 lost 0.15% to 2169.16 points.