18:32 GMT +321 November 2019
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    Federal Reserve Board Chair Janet Yellen testifies on Capitol Hill in Washington, Tuesday, Feb. 24, 2015

    US Federal Reserve to Increase Interest Rates 'Relatively Soon' - Yellen

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    The US Federal Reserve will likely increase its primary interest rate soon due to the increased risk of undermining financial stability, Federal Reserve Chairman Janet Yellen said in remarks on Thursday.

    WASHINGTON (Sputnik) — Earlier this month, the Federal Open Market Committee judged that an increase would "become appropriate relatively soon" if current economic trends continue.

    "Holding the federal funds rate at its current level for too long could…encourage excessive risk-taking and ultimately undermine financial stability," Yellen stated in remarks prepared for the Joint Economic Committee of Congress.

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    interest rate, Federal Reserve System, Janet Yellen, United States
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