Yellen Sees Rates Rising Gradually But Avoids Precise Timing

  • Positives outweigh negatives in U.S. economy, Fed chair says
  • Latest jobs report ‘disappointing’; other labor data better

Yellen: Fed Funds Rate Needs to Rise Gradually Over Time

Federal Reserve Chair Janet Yellen said the U.S. economy was making progress but was silent on the timing of another interest-rate increase, an omission viewed as a signal that a June move was off the table.

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