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Yellen Looks Beyond Global Drags and Likes What She Sees in U.S.

  • Fed chair stresses domestic strength despite overseas weakness
  • Yellen's confidence another signal of liftoff later this month
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Yellen: Labor Gains Boost My Confidence in 2% Inflation

Federal Reserve Chair Janet Yellen is counting on continued strength in the U.S. economy to support the central bank’s move to slightly higher interest rates while the manufacturing sector struggles with the stronger dollar’s drag on exports.

“Household spending growth has been particularly solid in 2015,” Yellen told Congress’s Joint Economic Committee Thursday. She noted that auto sales have been strong, while increases in home and stock prices, along with reductions in debt, have boosted Americans’ balance sheets.