Yellen Cautious about Rate Hike amid Positive Economic Growth

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Federal Reserve Chair Janet Yellen told the Senate Banking Committee today the Fed is pleased with economic improvement. "Domestic spending in production has been increasing at a solid rate. Real gross domestic product has now estimated to have increased at a 3.75% annual rate during the second half of last year." It was not what you'd call a rousing endorsement of progress — and Yellen indicated the Fed's in no hurry to start raising interest rates, as we hear from New York Times reporter Binjamin Appelbaum.




Warren Olney