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Yellen, Janet L. on 2017 March 3 at 13:00

At our meeting later this month, the Committee will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal funds rate would likely be appropriate.

In short, we currently judge that it will be appropriate to gradually increase the federal funds rate if the economic data continue to come in about as we expect. Indeed, at our meeting later this month, the Committee will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal funds rate would likely be appropriate. Nonetheless, as we have said many times--and as my discussion today demonstrates--monetary policy cannot be and is not on a preset course. As in 2015 and 2016, the Committee stands ready to adjust its assessment of the appropriate path for monetary policy if unanticipated developments materially change the economic outlook. Yellen, Janet L.

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