Fed will keep raising interest rates as long as US economy keeps growing
Washington — Federal Reserve chair Janet Yellen said the US economy should continue to expand over the next few years, allowing the central bank to keep raising interest rates. Yellen also stressing a gradual approach to tightening as the Fed monitored inflation that was below the desired level. "Considerable uncertainty always attends the economic outlook," Yellen said on Wednesday in remarks delivered to the US house financial services committee. "There is, for example, uncertainty about when — and how much — inflation will respond to tightening resource utilisation." As is typical in her testimony before the panel, Yellen was asked a broad range of questions, including about her views on the national debt, whether regulators had too much input into the decisions of private bank boards and whether or not she would accept another term as Fed chair. Her term expires in February, which could make Wednesday’s hearing one of her last before the House committee. Republicans welcomed her...
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