FILE - In this Tuesday, Nov. 7, 2017, file photo, Federal Reserve Chair Janet Yellen listens to introductions as she is awarded the Paul H. Douglas Award for Ethics in Government, on Capitol Hill in Washington. Yellen is submitting her resignation from the Federal Reserve board to President Donald Trump, announcing that she will leave the board when her successor Jerome Powell is sworn is as Fed chairman. Yellen’s four-year term as Fed chair ends on Feb. 3, 2018. (AP Photo/Jacquelyn Martin, File)
In her last interview before being replaced by Jerome Powell, outgoing US Federal Reserve Chair Janet Yellen said solid economic growth, faster wage increases, and a tightening labor market mean the UShow more

In exit interview disappointed Yellen says more interest rate increases by Fed ahead



Federal Reserve Chair Janet Yellen professed her disappointment over not being tapped for a second term by President Donald Trump, as she also predicted the central bank would keep on its path of gradual interest-rate increases.

“I would have liked to serve an additional term and I did make that clear, so I will say I was disappointed not to be reappointed,” she said Friday on the PBS NewsHour program in a rare television interview. In her last day on the job, Ms Yellen added, “I feel great about the economy, I think things are looking very strong.”

“The Federal Reserve has been on a path of gradual rate increases and if conditions continue as they have been, that process is likely to continue,” she said.

In a break from past practice, Trump opted not to nominate Yellen to a second four-year term. Instead, he chose fellow Republican Jerome Powell to head the central bank. Earlier on Friday, the Brookings Institution announced Yellen is joining the Washington-based think tank to continue her economic studies and particularly her analysis of the labor market. Powell is to be sworn in as chair on Monday, February 5 at 9 a.m.

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Ms Yellen said gains in the labor market had begun to benefit “almost all groups in the American economy” and she expected the pace of wage growth to move up, but perhaps not dramatically.

“Ultimately it’s limited by productivity growth, which is weak,” she said.

During Ms Yellen’s four-year term, unemployment fell to 4.1 per cent, from 6.7 per cent when she took office. The January reading, released earlier Friday, matched the lowest since 2000 and was below the level that most economists -- including those at the Fed -- reckon is equivalent to full employment.

Inflation, though, has consistently fallen short of the Fed’s 2 percent objective during Ms Yellen’s tenure and stood at 1.7 per cent in December, according to the Fed’s favorite price gauge. Ms Yellen and her fellow policy makers said this week that they expect inflation to rise this year and to hit their target “over the medium term.”

Notwithstanding this week’s rout in the stock market, investors have prospered during Ms Yellen’s time atop the central bank. Since she took control in February 2014, the Dow Jones Industrial Average has risen by more than 65 per cent.

As Fed chair, Ms Yellen began the process of exiting from the extraordinary measures that the Fed put in place during the financial crisis and its aftermath, gingerly lifting interest rates from near zero per cent and slowly scaling back the central bank’s big holdings of bonds.

Ms Yellen’s exit marks the end of more than 15 years of public service in two stints at the central bank. She first served as a governor under Chairman Alan Greenspan in 1994 to 1997. She returned as president of the San Francisco Fed in 2004, became vice chair in 2010 and chair in 2014.

Afghanistan Premier League - at a glance

Venue: Sharjah Cricket Stadium

Fixtures:

Tue, Oct 16, 8pm: Kandahar Knights v Kabul Zwanan; Wed, Oct 17, 4pm: Balkh Legends v Nangarhar Leopards; 8pm: Kandahar Knights v Paktia Panthers; Thu, Oct 18, 4pm: Balkh Legends v Kandahar Knights; 8pm: Kabul Zwanan v Paktia Panthers; Fri, Oct 19, 8pm: First semi-final; Sat, Oct 20, 8pm: Second semi-final; Sun, Oct 21, 8pm: final

Table:

1. Balkh Legends 6 5 1 10

2. Paktia Panthers 6 4 2 8

3. Kabul Zwanan 6 3 3 6

4. Nagarhar Leopards 7 2 5 4

5. Kandahar Knights 5 1 4 2

The Roundup : No Way Out

Director: Lee Sang-yong
Stars: Don Lee, Lee Jun-hyuk, Munetaka Aoki
Rating: 3/5

Dengue fever symptoms

High fever (40°C/104°F)
Severe headache
Pain behind the eyes
Muscle and joint pains
Nausea
Vomiting
Swollen glands
Rash

Abu Dhabi’s Racecard

5pm: Al Bithnah – Maiden (PA) Dh80,000 (Turf) 1,200m
5.30pm: Al Khari – Hanidcap (PA) Dh80,000 (T) 1,200m
6pm: Al Qor – Handicap (PA) Dh80,000 (T) 1,600m
6.30pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,600m
7pm: Al Badiyah – Handicap (PA) Dh80,000 (T) 2,200m
7.30pm: Al Hayl – Handicap (TB) Dh80,000 (T) 2,200m

THE DETAILS

Deadpool 2

Dir: David Leitch

Starring: Ryan Reynolds, Josh Brolin, Justin Dennison, Zazie Beetz

Four stars

MATCH RESULT

Liverpool 4 Brighton and Hove Albion 0
Liverpool: 
Salah (26'), Lovren (40'), Solanke (53'), Robertson (85')    

Signs of heat stroke
  • The loss of sodium chloride in our sweat can lead to confusion and an altered mental status and slurred speech
  • Body temperature above 39°C
  • Hot, dry and red or damp skin can indicate heatstroke
  • A faster pulse than usual
  • Dizziness, nausea and headaches are also signs of overheating
  • In extreme cases, victims can lose consciousness and require immediate medical attention
MATCH INFO

Manchester United v Brighton, Sunday, 6pm UAE

Asia Cup Qualifier

Venue: Kuala Lumpur

Result: Winners play at Asia Cup in Dubai and Abu Dhabi in September

Fixtures:

Wed Aug 29: Malaysia v Hong Kong, Nepal v Oman, UAE v Singapore

Thu Aug 30: UAE v Nepal, Hong Kong v Singapore, Malaysia v Oman

Sat Sep 1: UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal

Sun Sep 2: Hong Kong v Oman, Malaysia v UAE, Nepal v Singapore

Tue Sep 4: Malaysia v Singapore, UAE v Oman, Nepal v Hong Kong

Thu Sep 6: Final

 

Asia Cup

Venue: Dubai and Abu Dhabi

Schedule: Sep 15-28

Teams: Afghanistan, Bangladesh, India, Pakistan, Sri Lanka, plus the winner of the Qualifier


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