Investors and the media alike waited Friday to hear what Federal Reserve Chairwoman Janet Yellen had to say about the economy and the potential for an upcoming interest rate hike. In the grand scheme of things, what she had to say was positive.
“It’s appropriate — and I have said this in the past — for the Fed to gradually and cautiously increase our overnight interest rate over time,” Yellen said, according to MarketWatch. “And probably in the coming months, such a move would be appropriate.”