While you were sleeping: Yellen cements hike bets

Wed, 02 Dec 2015

By Margreet Dietz Dec. 3 (BusinessDesk) - US stocks and bonds were lower after Federal Reserve Chair Janet Yellen cemented expectations the central bank is gearing up to lift its target interest rate for the first time since 2009 at a meeting later this month. “On balance, economic and financial information received since our October meeting has been consistent with our expectations of continued improvement in the labour market,” Yellen said in a speech to the Economic Club of Washington. “And, as I have noted, continuing improvement...

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