Federal Reserve chairwoman Janet L. Yellen, stated Friday that the Fed was likely to raise the benchmark interest rate this month. This increased rate is coming sooner than expected. The last benchmark rate increase occurred in December. The rate was increased from .5 percent to .75 percent.
With healthy unemployment rates at 4.8 percent the Fed considers inflation rising back to 2 percent to be considered optimal. Ms. Yellen expects further increases in upcoming years to maintain a neutral stance.
Information provided by the New York Times. You can read the entire article here.