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Janet Yellen says Fed could raise rates in coming months

Federal Reserve Chair Janet Yellen said Friday that an interest rate hike would be appropriate in the coming months if the economy keeps improving.

While economic growth was relatively weak at the end of last year and beginning of this year, it appears to be picking up now based on recent data, Yellen said during a discussion at Harvard University.

She said she expects the Fed to "gradually and cautiously increase" its key interest rate "and probably in the coming months, such a move would be appropriate."

Anticipation of a rate hike at either the next June meeting or in July have been rising since the Fed last week released the minutes of its...

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