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Fed Signals Possible Interest Rate Hike in March
U.S. Federal Reserve Chair Janet Yellen told Congress today that an increase in the central bank’s key lending rate may be “appropriate,” adding that delaying increases would be “unwise” as long as the economy continues to strengthen.
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U.S. Federal Reserve Chair Janet Yellen told Congress today that an increase in the central bank’s key lending rate may be “appropriate,” adding that delaying increases would be “unwise” as long as the economy continues to strengthen.
The Fed held rates at zero-0.25% for seven years before raising them to a range of 0.25%-0.50% in December 2015. The range was raised to 0.50%-0.75% last December. The bank’s next scheduled meeting is March 14-15.
Yellen says the Fed wants to raise rates gradually in keeping with the pace of slowly improving employment and inflation data. She notes that waiting too long to implement future increases could result in sudden and rapid hikes that disrupt financial markets.
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