Yellen Leans Toward Near-Term Rate Rise Without Detailing Timing

May 27, 2016 9:38 PM

19 0

Yellen Leans Toward Near-Term Rate Rise Without Detailing Timing

Federal Reserve Chair Janet Yellen threw her support behind a growing consensus at the central bank in favor of another interest rate increase soon, while steering clear of specifying the timing of such a move.

“It’s appropriate -- and I’ve said this in the past -- for the Fed to gradually and cautiously increase our overnight interest rate over time,” Yellen said Friday during remarks at Harvard University in Cambridge, Massachusetts. “Probably in the coming months such a move would be appropriate.”

Also read: Asian Shares Rise, Fueled by Surprise OPEC Deal

Read more

To category page

Loading...