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Yellen Sees “Strengthened” Case for Higher U.S. Interest Rates
Federal Reserve Chair Janet Yellen tells a meeting of central bankers that price stability and improving employment trends have strengthened the case for raising prime interest rates in the U.S.
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Federal Reserve Chair Janet Yellen tells a meeting of central bankers that price stability and improving employment trends have strengthened the case for raising prime interest rates in the U.S.
Yellen didn’t say when the central bank might act. She notes that the country’s inflation rate remains below the Fed’s 2% target, a condition she attributes primarily to temporary factors.
The Fed last raised rates to between 0.25% and 0.50% in December, marking the first such increase in 7 years. Yellen describes the U.S. economy as “nearing the Federal Reserve’s statutory goals” to justify another upward adjustment
She reiterates that any increase will be gradual. Many economists expect a hike by year-end, and some predict it will come as soon as September.
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