Yellen: No Fixed Plan for Raising Rates

The transcript discusses the Federal Reserve's approach to interest rate changes and their impact on the labor market. It highlights the labor market conditions index as a tool for assessing changes in labor market health, noting a recent slowdown in job growth. The speaker advises caution in interpreting single data points due to potential revisions and emphasizes the Fed's data-dependent policy, which allows for flexibility in adjusting interest rates based on incoming economic data.

What does the labor market conditions index aim to assess?

How has the job growth changed in recent months according to the text?

What should we be cautious about when interpreting job market reports?

What indicators suggest that the labor market is still progressing?

What is the Fed's approach to raising rates according to the text?