Yellen: Fed Rate Rise Could Come ‘Relatively Soon’ as Data Point to Stronger Economy

Yellen: Rate hike 'appropriate relatively soon,' cites dangers in waiting (CNBC)

Fed Chair Janet Yellen on Thursday made her strongest comments to date in favor for a policy tightening in December, telling Congress an increase could be "appropriate relatively soon."

The head of the U.S. central bank also cited the dangers of waiting too long, which could result in the Fed having to move too quickly in the future, according to remarks she delivered to the Joint Economic Committee of Congress.

Both arguments reflect sentiments that have been expressed by the hawkish minority on the Federal Open Market Committee. Dissenters from the committee's doves have worried that keeping rates so low might force the Fed's hand in the future and cause economic and market disruptions.