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Yellen Sees Rate Rise in 2015, Gradual Tightening Thereafter

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(Bloomberg) Federal Reserve Chair Janet Yellen speaks about the outlook for the U.S. economy and monetary policy. Watch the key highlights from her speech in Providence, Rhode Island, in two minutes. (Excerpts. Source: Bloomberg)

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Federal Reserve Chair Janet Yellen said she still expects to raise interest rates this year if the economy meets her forecasts, with a gradual pace of tightening to follow.

While the labor market is nearing full strength, “we are not there yet,” she said Friday in a speech in Providence, Rhode Island.