Yellen 'hopeful' about pickup in growth
The Fed clearly overreacted to a single jobs report but she's urging others not to overreact.
What's clear is that she's enthusiastic on consumer spending and think it's a better signal than jobs. That's likely true but the Fed has habit of cherrypicking whatever data points to a pickup in growth/inflation to fit its overly-optimistic forecasts.
Earlier, she was grilled on IOER in a lively exchange.
There's been nothing market moving so far.
