Federal Reserve Chair Janet Yellen says the Fed is set to raise its benchmark interest rate later this month as long as economic data on jobs and inflation holds up. (Reuters)
Yellen Signals Fed Will Likely Raise Rates in March
By Ana Swanson
Federal Reserve chair Janet L. Yellen said a March rate hike would be “appropriate” if the economy continues to evolve as expected, signaling that the central bank will likely raise its benchmark interest rate sooner than many economists and investors had expected just a few weeks ago.
Until as recently as last week, Wall Street saw a rate hike as likelier in June. But in remarks made to the Executives Club of Chicago on Friday, Yellen cited a strong job market and rising inflation.