FYI: Federal Reserve Chair Janet Yellen said that additional gradual interest-rate increases will be appropriate but was silent on their precise timing, an omission viewed as a signal that a June move was off the table.
“I continue to think that the federal funds rate will probably need to rise gradually over time to ensure price stability and maximum sustainable employment in the longer run,” Yellen said Monday during a speech in Philadelphia.
Regards,
Ted
http://www.bloomberg.com/news/articles/2016-06-06/yellen-sees-rates-rising-gradually-without-giving-precise-timing
