Yellen says Fed rate hike likely appropriate in coming months

May 27, 2016 7:46 PM

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Yellen says Fed rate hike likely appropriate in coming months

CAMBRIDGE, Mass. The Federal Reserve should raise interest rates "in the coming months" if the economy picks up as expected and jobs continue to be generated, U.S. central bank chief Janet Yellen said on Friday, bolstering the case for a rate increase in June or July.

"It's appropriate ... for the Fed to gradually and cautiously increase our overnight interest rate over time, and probably in the coming months such a move would be appropriate," Yellen said during an appearance at Harvard University.

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