Economics
Yellen Leans Toward Near-Term Rate Rise Without Detailing Timing
- Fed chair says move probably appropriate in ‘coming months’
- Says U.S. economy continuing to improve, inflation to rise
Janet Yellen speaks during a Radcliffe Day event at Harvard University in Cambridge, Massachusetts, on May 27, 2016.
Photographer: Scott Eisen/BloombergThis article is for subscribers only.
Federal Reserve Chair Janet Yellen threw her support behind a growing consensus at the central bank in favor of another interest rate increase soon, while steering clear of specifying the timing of such a move.
“It’s appropriate -- and I’ve said this in the past -- for the Fed to gradually and cautiously increase our overnight interest rate over time,” Yellen said Friday during at Harvard University in Cambridge, Massachusetts. “Probably in the coming months such a move would be appropriate.”