Economics
Yellen Says Interest Rate Hike Could Come ‘Relatively Soon’
- Fed chief reiterates that rate increases will be ‘gradual’
- She makes no mention of impact of potential Trump policies
Yellen Appears to Keep Fed on Track for Rate Hike
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Federal Reserve Chair Janet Yellen signaled the U.S. central bank is close to lifting interest rates as the economy continues to create jobs at a healthy clip and inflation inches higher.
A rate hike “could well become appropriate relatively soon if incoming data provide some further evidence of continued progress toward the committee’s objectives,” Yellen said in the text of testimony she is scheduled to deliver Thursday in Washington before Congress’s Joint Economic Committee.