Aug 27 2016

Rate Range Projection by Bank

Next week 100.50 –102.50

Next 3 months 98 - 105.00

Fed Chair Janet Yellen told a global monetary policy conference that the case for a rate increase had grown stronger, while Fed Vice Chair Stanley Fischer suggested a move could come at the central bank's September policy meeting if the economy was doing well.

Although U.S. government data earlier on Friday showed the economy growing only sluggishly in the second quarter, Yellen said a lot of new jobs were being created and economic growth would likely continue at a moderate pace.

Yellen said the Fed already thinks it is close to meeting its goals of maximum employment and stable prices, and she described consumer spending as solid while noting business investment was weak and exports had been hurt by a strong U.S. dollar.