Fed Chair Yellen said it's appropriate for the Fed to gradually raise rates
Fed Chair Yellen said it's appropriate for the Fed to gradually raise rates if the economy continues to perform as expected, reiterating a long standing policy view. She added that the economy is "pretty healthy." The Fed Chair is taking Q&A at the University of Michigan. She expects the economy to continue growing at a moderate pace. The global economy is also operating in a more robust way. Inflation is also reasonably close to the FOMC's target. She noted the drop in the unemployment rate to 4.5% in the March report, and said inflation is reasonably close" though still a little under the 2% goal. The 5-year price measure does show price expectations ticking up however. Most on the FOMC don't believe inflation is a significant problem at all.