WASHINGTON—Federal Reserve Chair Janet Yellen said Friday that the case for raising interest rates has strengthened in light of a solid job market and an improved outlook for the U.S. economy and inflation. Yellen sketched a generally upbeat assessment of the economy in a speech to an annual conference of central bankers in Jackson Hole, Wyoming. She also noted that while inflation is still running below the Fed's 2 per cent target, it is being depressed mainly by temporary factors. Instead, she stressed, as she frequently has, that the Fed's rate decisions will depend on whether the freshest economic data continues to confirm its outlook. ( Carlos Barria / REUTERS FILE PHOTO )Economists took her remarks to mean that while a rate hike remains possible at the Fed's September meeting, it isn't necessarily likely.

Source: thestar August 26, 2016 14:42 UTC