Yellen Notes Stronger Case for Rate Hike

During a recent speech, Federal Reserve Board (FRB) Chairwoman Janet Yellen noted that the case to raise interest rates has strengthened in recent months, according to a recentBloomberg article.

n light of the continued solid performance of the labor market and our outlook for economic activity and inflation, I believe the case for an increase in the federal funds rate has strengthened in recent months,” Yellen stated.

Yellen also noted that the economy is “nearing” the FRB’s goals of full employment and stable prices, but did not give an indication of when the U.S. might hike rates. The FRB has policy meetings scheduled in September, November, and December.

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