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Yellen sees gradual rate increases starting this year

Subsequent increases will be gradual without following a predictable path, the Fed chair says.

By Jeff Kearns, Bloomberg | Updated on March 27, 2015
Fed Chair Janet Yellen. Photo: AP
 

(Bloomberg) — Chair Janet Yellen said she expects the Federal Reserve to raise interest rates this year, and that subsequent increases will be gradual without following a predictable path.

“I expect that conditions may warrant an increase in the federal funds rate target sometime this year,”Yellen said Friday in remarks prepared for delivery in San Francisco. She and fellow policy makers “generally anticipate that a rather gradual rise in the federal funds rate will be appropriate over the next few years.”

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