Yellen Says a March Interest-Rate Hike Is ‘Likely Appropriate’

EXCERPT:

YELLEN: "Our initial projections for the appropriate path for the federal funds rate reflect economic forecast that generally envision that economic activity will expand at a moderate pace in coming years, labor market conditions will strengthen somewhat further, and inflation will be at or near 2 percent over the medium term. In short, we currently judge that it will be appropriate to gradually increase the federal funds rate if the economic data continued to come in about as we expect. Indeed, 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.”