WASHINGTON: Bullishness is not a word much associated with Janet Yellen since she became Federal Reserve chair 18 months ago, but that could change with the Fed's next policy meeting.
With a global focus on when the US central bank will begin raising interest rates after nearly seven years locked at zero percent, analysts will be looking for a shift in how the Yellen-led Federal Open Market Committee on Wednesday describes the US economy.
No decision to raise rates is expected in the end-July FOMC meeting Tuesday and Wednesday. But the language of the policy statement could point to a date, which could be as early as September.
Long seen as the key voice of caution over tightening monetary policy, the 68-year-old economist in recent weeks has sounded more confident in the US economy, even as she stated publicly the risks that could challenge growth.
In two separate statements this month, Yellen triggered surprise by sticking firmly to the view that the FOMC will decide on a rate rise before the end of the year.
To many analysts, spotty US economic performance data -- strong hiring but weaknesses in building, consumer spending and manufacturing -- combined with generally sluggish global economic activity justified holding off on the first rate increase in nine years.
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