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The Fed: Yellen says she thinks Fed should raise interest rates ‘a bit more’

Bloomberg News
Former Fed Chairwoman Janet Yellen said the Fed could get behind the curve on inflation if it doesn’t keep hiking rates.

Former Fed Chairwoman Janet Yellen said Tuesday the Federal Reserve should stick to the task of raising interest rates to slow down the economy despite the market turmoil seen this month.

“I think it’s appropriate for the Fed to be raising interest rates a bit more,” Yellen said during a talk at the Charles Schwab Impact 2018 conference in Washington.

Yellen said financial conditions remain “accommodative,” or easy, despite the market correction.

The Fed has been stimulating the economy since 2009 and now wants to take its foot off the accelerator to keep the expansion going, and keep inflation contained, she said.

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