Economics
Yellen Says Fed on Course for 2015 Rate Rise Even After Slowdown
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A first-quarter economic chill won’t deter the Federal Reserve from its plan to raise interest rates this year, Chair Janet Yellen said, assuring investors that the pace of subsequent tightening will be gradual.
Although the labor market is nearing full strength, “we are not there yet,” she said Friday in a speech in Providence, Rhode Island, emphasizing the Fed will proceed “cautiously.”