Yellen: Rate hike next month is 'live possibility'

November 4, 2015 3:57 PM

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Saying the U.S. economy is performing well, Federal Reserve Chair Janet Yellen told Congress Wednesday that a rate hike at its meeting next month is a "live possibility."

Her remarks largely echoed the Fed's statement after a meeting last week that said the central bank will act if the economy and labor market continue to improve. The Fed has not raised its benchmark rate in nearly a decade and it has been near zero since the 2008 financial crisis.

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