Janet Yellen Says Economy Is Ripe for Fed Interest Rate IncreaseBy
WASHINGTON — Janet L. Yellen, the Federal Reserve chairwoman, said on Wednesday that economic conditions were ripe for the Fed to start raising its benchmark interest rate this month, a move that appears all but inevitable barring a sharp change in the economic weather.
“I think the economy is on the road to recovery,” Ms. Yellen said. “We’re doing well.”
While insisting the Fed’s policy-making committee would not make a final decision until its meeting Dec. 15 and 16, Ms. Yellen said raising rates would be “a testament, also, to how far our economy has come in recovering from the effects of the financial crisis and the Great Recession.”…
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