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Fed Chief Sees Gradual Rate Hikes Starting This Year

File photo: Federal Reserve Chair Janet Yellen
File photo: Federal Reserve Chair Janet Yellen
San Francisco/Washington: Federal Reserve Chair Janet Yellen signalled that the US central bank will likely start raising borrowing costs later this year, even before inflation and wages have returned to health, but emphasised the return to normal interest rates will be gradual. A downturn in core inflation or wage growth could force the Fed to delay the first increase to borrowing costs since 2006, the central bank's chief said...
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