Fed still on track for rate hike this year, Yellen says

September 24, 2015 9:15 PM

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AMHERST, Mass. Federal Reserve Chair Janet Yellen said on Thursday she expects the U.S. central bank to begin raising interest rates later this year as long as inflation remains stable and the U.S. economy is strong enough to boost employment.

Yellen, who spoke a week after the Fed delayed a long-anticipated rate hike, said she and other Fed policymakers do not expect recent global economic and financial market developments to significantly affect the central bank's policy.

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