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Yellen on verge of starting 'civil war' at Fed

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(CNBC) Fed Chair Janet Yellen’s interest in running a “high-pressure economy” threatens to add to an increasingly divisive climate at the U.S. central bank.

 

In remarks last week that jarred the market, Yellen ruminated about the benefits of letting inflation run a little hotter than normal while allowing the unemployment rate to drop below the point that historically would trigger Fed tightening action.

 

To many observers, the comments were a clearly dovish signal that she favors a lower-for-longer approach when it comes to interest rates.

 

But that kind of attitude could exacerbate tensions among Federal Open Market Committee members, in particular those who have been clamoring for rate hikes.

 

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