WASHINGTON–Federal Reserve Chairwoman Janet Yellen sent another signal on Friday that the Fed could move to raise rates within the next few months, especially as the economy continues to build some steam.
In remarks to the Radcliffe Institute for Advanced Study at Harvard University, Yellen said, “It’s appropriate…for the Fed to gradually and cautiously increase our overnight interest rate over time, and probably in the coming months such a move would be appropriate.”
The Fed’s next policy meeting is scheduled for June 14-15. It also has meetings scheduled for July and September.
Yellen said during her remarks that after a relatively flat couple of recent quarters “growth looks to be picking up from the various data that we monitor.”
One recent analysis projected that GDP growth will soar to 2.5% for 2016 after a sluggish 0.8% in Q1.