Interesting comments from former head of Central Bank
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.