Economics
Yellen Says March Hike 'Likely Appropriate' If Progress Persists
- Chair says the Fed isn’t behind the curve in lifting rates
- ‘Gradual removal of accommodation is likely to be appropriate’
Yellen Says March Rate Hike May Be Appropriate
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Federal Reserve Chair Janet Yellen capped a week of rising expectations about an imminent interest-rate increase by explicitly supporting a hike in mid-March if U.S. economic progress persists.
“At our meeting later this month, the Committee will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal funds rate would likely be appropriate,” Yellen said in the text of a speech Friday at the Executives’ Club of Chicago.