Topics

Federal Reserve
Yellen expects Fed to raise key short-term interest rate this year
Yellen expects Fed to raise key short-term interest rate this year

Federal Reserve Chairwoman Janet L. Yellen said Friday that she expected the central bank to increase its benchmark short-term interest rate this year if the economy continues to improve. It was her clearest signal yet of when the Fed would raise the so-called federal funds rate for the first time since 2006. The Fed has held the rate near zero percent since late 2008 in an attempt to boost economic growth and hiring. With the economy improving, Fed policymakers have indicated they could start raising the rate as soon as June. But recent weak economic data have led many analysts to predict the Fed would not raise the rate until at least September — and maybe not until next...

Loading