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Yellen Says Rate Hike Will Be Appropriate Later This Year
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22.05.2015
Federal Reserve chairwoman Janet Yellen has said she expects interest rates to rise this year, in what would be the first rate hike from near zero since the 2008 economic crisis. Yellen said that if the US economy continues to strengthen it will be appropriate at some point in 2015 to take the initial step to raise the federal funds rate. However, she cautioned the market not to expect any rapid increase in rates, adding, “After we begin raising the federal funds rate, I anticipate that the pace of normalization is likely to be gradual,” .
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