‘Growth looks to be picking up,’ Yellen said.
by Steve Goldstein
Federal Reserve Chairwoman Janet Yellen on Friday said an interest-rate rise may coming in a matter of “months,” as she expected the economy, and importantly, the jobs market, to continue to get better.
“It’s appropriate — and I have said this in the past—for the Fed to gradually and cautiously increase our overnight interest rate over time,” Yellen said, “and probably in the coming months such a move would be appropriate.”
She said indicators point to the U.S. economy rebounding after a difficult first quarter. “Growth looks to be picking up,” she said. The Commerce Department earlier on Friday reported a 0.8% gain in first-quarter gross domestic product.