Yellen suggests rate hike is coming

Federal Reserve Chair Janet Yellen said Friday that the case for raising interest rates has strengthened in light of a solid job market and an improved outlook for the U.S. economy and inflation.

Still Yellen declined to hint at whether the Fed might raise rates at its next policy meeting, Sept, 20-21, or at its subsequent meeting in mid-December.

Yellen added that the Fed continues to believe that future rate increases will remain “gradual”.

At the time, the Fed foresaw four additional rate increases in 2016 .

In advance of Yellen’s speech Friday, George, Fischer and eight other Fed officials met Thursday with about 120 activists from the Campaign for Popular Democracy’s Fed Up coalition.

Article source: