Yellen sees more rate hikes needed if US economy stays on course

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
US Federal Reserve chairperson Janet Yellen. (AFP)
US Federal Reserve chairperson Janet Yellen. (AFP)

Washington - Federal Reserve chairperson Janet Yellen said more interest rate increases will be appropriate if the economy meets the central bank’s outlook of gradually rising inflation and tightening labour markets.

"At our upcoming meetings, the committee will evaluate whether employment and inflation are continuing to evolve in line with these expectations, in which case a further adjustment of the federal funds rate would likely be appropriate," she told the Senate Banking Committee in prepared remarks on Tuesday.

Today’s semi-annual report on monetary policy is her first since Donald Trump became president after vowing to boost US growth, which could push the Federal Open Market Committee to pick up the pace of rate hikes if such steps fan higher inflation.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
USD/ZAR
14.05
0.0%
GBP/ZAR
19.67
0.0%
EUR/ZAR
17.10
0.0%
AUD/ZAR
11.03
0.0%
JPY/ZAR
0.13
0.0%
Gold
1,831.32
0.0%
Silver
27.45
0.0%
Palladium
2,929.64
0.0%
Platinum
1,256.50
0.0%
Brent Crude
68.28
+0.3%
Top 40
62,573
+1.4%
All Share
68,520
+1.4%
Resource 10
71,474
+2.1%
Industrial 25
86,856
+0.9%
Financial 15
12,711
+1.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 1387 votes
No, I did not.
52% - 3460 votes
My landlord refused
27% - 1836 votes
Vote