Federal Reserve Chair Janet Yellen said the case to raiseinterest rates is getting stronger as the U.S. economy approachesthe central bank's goals.
“In light of the continued solid performance of the labor marketand our outlook for economic activity and inflation, I believe thecase for an increase in the federal funds rate has strengthened inrecent months,” she said in a speech Friday to central bankers andeconomists in Jackson Hole, Wyoming.
Yellen also said the economy is “nearing” the Fed's goalsof full employment and stable prices. The Fed chair didn't discussthe specific timing of a rate move in her first public commentssince June.
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