In US, the head of Central Bank says she expects the US job market to continue improving and the rate of inflation to rise closed to the Federal Reserve's two percent target rate. In a speech to the Economic Club of Washington, Fed Chair Janet Yellen said she expects the economic drag from the strong US dollar and faltering foreign markets to diminish over time. She cautioned that bad economic reports could still delay a rate increase. The next major economic report comes today.Many economists interpret that as a signal that Fed officials will raise the key interest rate on December 16th, a change that has been under consideration for a long time. The Federal Reserve cut a key interest rate to a record low near zero during the financial crisis.
News On AIR | December 4, 2015 10:53 AM
US: Head of Central Bank considers higher interest rate