Yellen indicates rate hike this month, rates likely to rise faster this year
A rate hike is increasingly likely this month, barring a surprise from the Lablor Department's March 10 payroll report.
Speaking from prepared remarks at a business luncheon Friday, Janet Yellen said a rate hike later this month would likely be appropriate, reported Reuters. The decision will still have to wait until a March 10 Labor Department payroll report, although a surprise is unlikely. Yellen also indicated that rates will likely rise faster this year. Markets were largely unchanged on Friday, after a downturn Thursday interupted this week’s rally.