» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 39 | NO. 48 | Friday, November 27, 2015

Yellen signals growing likelihood of a December rate hike

Print | Front Page | Email this story

WASHINGTON (AP) — Federal Reserve Chair Janet Yellen tells Congress that economic conditions are falling into place for policymakers to raise interest rates when they meet in two weeks — as long as there are no major shocks that undermine her confidence.

Yellen says that even after the first increase, rates will still be at very low levels, which should encourage more borrowing by consumers and businesses.

In testimony before the Joint Economic Committee, Yellen says further delays in a Fed rate hike could force the central bank to tighten credit too quickly later. Such an abrupt move could push the economy into a recession.

Fed policymakers meet on Dec. 15-16. The Fed's key short-term rate has been at a record low near zero for the past seven years.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email  
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0