Federal Reserve Chair Janet Yellen expressed confidence in the outlook for US economic growth and cautioned waiting too long to increase interest rates could pressure the central bank to tighten too swiftly.
Yellen, speaking before the Economic Club of Washington, said such a tightening would risk derailing financial markets and put the economy into recession. She also said economic and financial data received since October has been consistent with their projections of continuous improvement in the labor market.
The Fed chair reiterated policymakers will receive a range of reports on inflation, economic activity, and the labor market between now and their December meeting, which will influence their decision.
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