Federal Reserve Chair Janet Yellen said Friday that the case for raising interest rates has strengthened in light of a solid job market and an improved outlook for the U.S. economy and inflation. But she stopped short of offering any timetable.
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The Federal Reserve said Wednesday that near-term risks to the U.S. economy have diminished, reviving the prospect that it will resume raising interest rates as soon as September.
George deemed the current level of short-term rates maintained by the Fed as “too low given the progress we’ve seen in the economy.”
The Federal Reserve indicated that it needs a clearer picture of economic developments before raising rates again.
Federal Reserve Chair Janet Yellen says the U.S. economy is improving, but is still defined by so many uncertainties that it’s unclear when the Fed should resume raising interest rates.
Business economists are giving a more pessimistic outlook about U.S. economic growth this year for the third consecutive month and uncertainty over the November presidential election has proven to be damaging.