Yellen suggests rate hike is coming but offers no timetable

August 26, 2016 2:08 PM

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WASHINGTON -- Federal Reserve Chair Janet Yellen says the Fed is moving toward raising interest rates in light of a solid job market and an improved outlook for the U.S. economy and inflation. But she’s stopping short of signaling any timetable for the next rate hike.

Yellen offered a generally upbeat assessment of the economy Friday in a speech to a conference of central bankers in Jackson Hole, Wyoming. She pointed to strong gains in employment and strength in consumer spending. Yellen also noted that while inflation is still running below the Fed’s 2 percent t...

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