WASHINGTON (March 4): Federal Reserve Chair Janet Yellen left little doubt on Friday that the central bank will raise interest rates this month. More importantly, she dropped hints that it might end up having to increase them this year more than planned. In a speech to The Executives’ Club of Chicago, Yellen singled out the danger of the central bank being too slow in boosting rates. Policy makers penciled in three quarter percentage-point rate increases for 2017, according to the median projection in forecasts released in December. “There’s a clear suggestion the Fed may have to step up the pace of its rate increases,” he added.

Source: The Edge Markets March 03, 2017 22:30 UTC