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Yellen said that much of the recent softness in inflation has come from transitory factors, which is expected to abate over time. She said diminishing slack in labor and product markets should put upward pressure on inflation in coming months. She also added that it takes time for monetary policy actions to affect future economic outcomes.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.