Federal Reserve Chair Janet Yellen is signaling that the central bank could begin raising short-term rates six months after it halts its bond purchases around year's end.
Federal Reserve Chair Janet Yellen is signaling that the central bank could begin raising short-term rates six months after it halts its bond purchases around year’s end.
That was the clearest indication to date of when the Fed might raise its benchmark short-term rate, which has been at a record low near zero since 2008. The Fed has previously resisted specifying the timing of a possible increase in the short-term rate. Its latest statement says the rate could stay at a record low “for a considerable time” after the bond purchases end.
Yellen sought to explain that term at a news conference Wednesday.
“This is the kind of term it’s hard to define,” she said. “Probably means something on the order of six months, or that type of thing.”
- Seattle City Council kills sale of street for Sodo arena; Sonics fans despair
- This drone footage of inside Bertha’s tunnel is like something out of ‘Star Wars’
- Ted Cruz ends his bid for Republican presidential nomination
- Man killed by car pulling out of Seattle parking garage
- Bertha under the viaduct: Drilling that shut highway is nearly 30 percent done