Yellen reiterated that the Fed will raise rates before year-end – Financial Journal

Expansion, Spain

The president of the Federal Reserve (Fed) was optimistic about the economic situation being experienced by the United States and reiterated that the interest rate will rise before the end of the year.

Janet Yellen made the remarks during his semiannual appearance before Congress on the economic situation in the US. Last week the chairman of the Fed and he said in a speech to the City Club of Cleveland that rates would rise before the end of 2015.

In his speech today he said that rates will rise “at some later this year “but has given no indication of when it will occur which would be the first rate hike in the US since 2006. The United States keeps rates between 0% and 0.25% since 2008 and most analysts I expected movements in the monetary policy of the Fed in September.

Yellen today held the second of its two annual hearings in Congress and on this occasion gave a more optimistic speech that he gave last February . “Looking ahead, the outlook is favorable for further recovery of US labor market and the economy in general,” he said.

In addition, said data job creation and reiterated that certain Data of economic weakness “They are transient.”

“If the economy grows as expected, appropriate conditions will a rate hike sometime this year,” he said.

Greece and China, risk factors

For the first time, Yellen spoke of risk factors from abroad. For the president of the Fed, these two countries could “pose a risk” to the US economy.

Regarding the Hellenic country, believes that the situation “remains difficult”, while in the case of the giant Asian economy “must deal with the challenges posed by high public debt, weak property market and a volatile financial conditions”

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