"If the labor market continues to improve more quickly than anticipated by the Committee, resulting in faster convergence toward our dual objectives, then increases in the federal funds rate target likely would occur sooner and be more rapid than currently envisioned," Yellen said in prepared remarks.
Speaking to the
However, she struck a cautious tone in noting that the unemployment rate of 6.1% remains above Federal Open Market Committee's target.
As such, "if economic performance is disappointing, then the future path of interest rates likely would be more accommodative than currently anticipated."
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