Yellen expects rate hike this year, but cites labor weakness

July 10, 2015 4:33 PM

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Yellen expects rate hike this year, but cites labor weakness

CLEVELAND Federal Reserve chair Janet Yellen on Friday said she expects the Fed to raise interest rates at some point this year, but pointed strongly to her concerns that U.S. labor markets remain weak and that more workers could be encouraged back into the job market with stronger growth.

In a speech that cautioned about the status of workers as well as some of the international risks that have developed, Yellen gave no direct hint about whether she anticipates more than one rate hike over the Fed's four remaining meetings in 2015.

Also read: U.S. economy creates 178,000 jobs in November; jobless rate drops to 4.6%

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