Fed Has No Timetable For Raising Rates, Yet Yellen Says Rate Hikes Are Coming
With the economy still recovering, Federal Reserve Chairwoman Janet Yellen says there is “no fixed timetable” for raising interest rates.
Yet speaking before the House Financial Services Committee on Wednesday she did indicate further rate hikes are on the way, especially if labor-market gains push inflation above the Fed's 2% target, the Wall Street Journal reports.
“We expect to see solid job growth continue, but we do need, if things continue on their current course, to gradually remove the accommodation that is there,” Yellen said, however she added that Fed officials are “not actively considering” raising the target. [WSJ]