Yellen says rate hike ‘could come sooner than currently expected'

Janet Yellen

There is "considerable uncertainty" about the level of US labour market slack on the Federal Reserve's Open Market Committee (FOMC), and an increase in the Federal funds rate "could come sooner" than currently expected, according to Fed chair Janet Yellen.

Speaking at Jackson Hole on Friday, Yellen said the past year's drop in unemployment had caught the FOMC by surprise and that its "key challenge is to assess just how far the economy now stands from the attainment of its maximum employment goa

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