YELLEN: Rate hikes are coming this year
Just another reason not to wait to purchase a home: "...if the economy continues to improve as I expect, I think it will be appropriate at some point this year to take the initial step to raise the federal funds rate target and begin the process of normalizing monetary policy." - Federal Reserve Chair Janet Yellen YELLEN: Rate hikes are coming this year Myles UDland - MAY 22, 2015, 1:01 PM Federal Reserve chair Janet Yellen said it will be appropriate for the Fed to raise rates at some point this year. Yellen's comments were delivered on Friday before the Greater Providence Chamber of Commerce. Here's the key peel from Yellen's speech: Given this economic outlook and the attendant uncertainty, how is monetary policy likely to evolve over the next few years? Because of the substantial lags in the effects of monetary policy on the economy, we must make policy in a forward-looking manner. Delaying action to tighten monetary policy until employm...