Yellen Solidifies Expectations for Year-End Rate Hike

Federal Reserve Chair Janet Yellen says the central bank shouldn’t wait for 2 percent inflation to continue raising rates, suggesting another rate hike by the end of the year is extremely likely. Financial markets demonstrated very little reaction to Yellen’s comments to the National Association for Business Economics on Tuesday as investors seem to see another rate hike by the end of the year as a foregone conclusion.

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