Yellen confident in economy ahead of expected rate hike

December 3, 2015 1:02 AM

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WASHINGTON — Federal Reserve Chair Janet Yellen on Wednesday indicated that the U.S. economy is on track for an interest rate hike this month, but she said the Fed will need to review incoming data before making a final decision.

Yellen gave an upbeat assessment of the economy’s progress since the Fed’s last meeting in October, describing it as in line with its expectations for the labor market and inflation.

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