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title: Janet Yellen Chair of the Federal Reserve | TIME
description: The Federal Reserve will not be hiking interest rates, Fed Chair Janet Yellen announced Thursday in a much-anticipated decision that sent stock markets soaring.
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# Janet Yellen Chair of the Federal Reserve

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<!-- video src="https://cdn.jwplayer.com/manifests/dbpBbS91.m3u8" -->
## Video: Janet Yellen Chair of the Federal Reserve

[Watch (HLS stream): Janet Yellen Chair of the Federal Reserve](https://cdn.jwplayer.com/manifests/dbpBbS91.m3u8) (0:33)

![Janet Yellen Chair of the Federal Reserve](https://cdn.jwplayer.com/v2/media/dbpBbS91/poster.jpg?width=720)

_Published 2015-09-18. The Federal Reserve will not be hiking interest rates, Fed Chair Janet Yellen announced Thursday in a much-anticipated decision that sent stock markets soaring._


---

Jul 27, 2023 6:49 PM UTC

---

## More From This Series

[All Videos](https://time.com/video/)

[TIME for Kids Sits Down With Janet Yellen](/video/cBBiOqDH/)

### TIME for Kids Sits Down With Janet Yellen

[TIME Raw: Federal Reserve Chair Announces Rate Hike](/video/yirxsGYW/)

### TIME Raw: Federal Reserve Chair Announces Rate Hike

[Janet Yellen Confirmation Hearing](/video/Xiwfures/)

### Janet Yellen Confirmation Hearing

---


## Transcript

The committee continues to anticipate that the first increase in the federal funds rate will be appropriate when it has seen some further improvement in the labor market and is reasonably confident that inflation will move back to its 2 % objective over the medium term. It remains the case that the committee will determine the timing of the initial increase based on its assessment of the implications of incoming information for the economic outlook. [ BLANK_AUDIO ]

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