Real Estate Notebook: Yellen shares Fed's assessment of the economy.
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Investors and the real estate world were on high alert for clues of when the Fed would begin to lift interest rates: The U.S. central bank has vowed to keep rates low until the labor market is deemed “healthy” and inflation stabilizes at 2 percent.
Yellen, in a live press conference carried online on Marketwatch.com, cut to the chase, making these main points.
• Inflation looks to be moving gradually to the 2 percent target.
• Bond-buying would be cut by $10 billion per month.
• The majority of Fed officials expect the first interest rate hike in 2015.