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Janet Yellen agrees with Fed’s monetary policy

Interesting comments from former head of Central Bank

Janet Yellen (Credit: Chip Somodevilla / Getty Images)

Former Federal Reserve Chair Janet Yellen agrees that the Central Bank should continue increasing interest rates gradually.

Yellen said yesterday… “At this point, a couple more interest rate increases are necessary to stabilize growth at a sustainable pace and stabilize the labor market so it doesn’t overheat.” She also disagreed with the President who said that the Fed “has gone crazy”.

Where we stand: The Fed’s benchmark interest rate now sits in a range of 2 and 2.25 percent. Expect another rate hike in December, according to CNBC.

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