By Craig Torres | BloombergBusiness
Federal Reserve Chair Janet Yellen said she is ready to raise interest rates this year and intends to let the labor market run hot for a time to heal the lingering scars of the worst recession since the Great Depression.
Yellen placed herself squarely in the camp of those Federal Open Market Committee officials who favor raising rates in 2015. “Most of my colleagues and I anticipate that it will likely be appropriate to raise the target range for the federal funds rate sometime later this year,” she said Thursday in a speech in Amherst, Massachusetts.
