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According to the article, why did Yellen’s comment take investors by surprise?
Speaking at her first news conference on March 19, Fed Chair Janet Yellen announced a cut in monthly bond purchases by $10 billion, down from $65 billion. But what has worried the market is her statement on the possibility of raising short-term interest rates sooner than expected.
Yellen suggested that the Fed could start raising short-term interest rates after it ends its bond-buying program. This comment has taken investors by surprise because Wall Street did not expect an increase in interest rates that early. However, a heartening statement from the Fed was that it would keep rates "below normal levels" for a "considerable time after" it has ended its bond-buying program. On being questioned what that considerable time was, Yellen said that it might be around "six months."
The immediate effect of Yellen’s statement was seen in the market. The Dow Jones industrial average closed down 114.02 points, or 0.7% to 16,222.17, while The Standard & Poor's 500 and Nasdaq composite fell by 0.6% each.
According to the article, why did Yellen’s comment take investors by surprise?
When did Fed Chair Janet Yellen have her first news conference?
According to the article, how did The Standard & Poor's 500 index react immediately after Yellen’s comments?
The immediate effect of Yellen’s statement was seen in the market.
In the above sentence, what does the word immediate mean?
The Dow Jones industrial average closed down 114.02 points, or 0.7% to 16,222.17, while The Standard & Poor's 500 and Nasdaq composite fell by 0.6% each.
In this sentence, what is the meaning of composite?
Based on the information in the reading, what gave the markets some relief regarding the interest rate?
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