Rate hike coming?: Janet Yellen Interest Rates

Published: December 2, 2015

Rate hike coming?: Janet Yellen Interest Rates, Janet L. Yellen, the Federal Reserve chairwoman, said Wednesday that economic conditions were ripe for the Fed to start raising its benchmark interest rate this month, a move that appears all but inevitable.

“The economy has come a long way toward the F.O.M.C.’s objectives of maximum employment and price stability,” Ms. Yellen said, according to the prepared text of a speech to the Economic Club of Washington, referring to the Federal Open Market Committee.

Ms. Yellen said that when the Fed decided to raise rates, the decision would be “a testament, also, to how far our economy has come in recovering from the effects of the financial crisis and the Great Recession.”

“It is a day that I expect we all are looking forward to,” she said.

Ms. Yellen underscored that the Fed expected to raise rates slowly, because the economy remained weak. And she said the Fed’s policy-making committee would not make a final decision until its meeting Dec. 15 and 16. Fed officials first will have the chance on Friday to see the government’s estimate of November job growth.

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