Fed Chair Ready to Raise Rates in December
Yellen Plans Interest Rate Hike This Month
Unless the economy tanks, Federal Reserve honcho Janet Yellen plans to raise interest rates this month, even if it means opposition within her ranks to halt seven years of near-zero rates, the Wall Street Journal reports.
“I don’t need unanimity," Yellen said Wednesday at the Economic Club of Washington. “I wouldn’t try to stifle dissents, and I would even expect some at critical junctures.”
The move could come as soon as Dec. 15. Yellen added that she expects the neutral rate to move up slowly as the economy strengthens—even though she still isn’t sure if it will rise or by how much. [WSJ]