Federal Reserve Chair Janet Yellen said Friday she expects to begin raising interest rates later this year -- if the job market improves and the Fed is confident inflation will climb closer toward its target rate.
Federal Reserve policymakers largely agreed when they met last month that June would be too early to start raising interest rates, as they debated whether the economy's winter weakness would fade or persist.
Federal Reserve Vice Chairman Stanley Fischer says he expects the Fed to start raising interest rates sometime this year. Once that happens, though, rates won't likely move in any predictable pattern, he added.
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