By Ben Leubsdorf | The Wall Street Journal
The Federal Reserve may raise short-term interest rates in mid-December so long as the U.S. economy remains on track, Chairwoman Janet Yellen said Wednesday.
The Fed expects that “the economy will continue to grow at a pace that is sufficient to generate further improvements in the labor market and to return inflation to our 2% target over the medium term, and if the incoming information supports that expectation, then…December would be a live possibility,” Ms. Yellen said while testifying before the House Financial Services Committee. “But importantly, we’ve made no decision about it.”
