Yellen signals March rate hike would be 'appropriate'

Federal Reserve Chairwoman Janet Yellen on Friday said a rate hike is likely this month.

"At our meeting later this month, the committee will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal funds rate would likely be appropriate," Yellen said in a speech in Chicago.

In December, the Fed raised rates for only its second time in about a decade.

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