Fed Chairman Yellen Says FOMC Must Proceed Cautiously on Interest Rates

Janet Yellen said policy makers must proceed cautiously on rates, as global risks have increased since the Fed last raised rates in December.
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Federal Reserve Chairman Janet Yellen said policy makers must proceed cautiously on rates, as global risks have increased since the Fed last raised rates in December. Speaking before The Economic Club of New York, Yellen said she expects gradual increases in the federal funds rate in the future. Yellen also said she expects moderate economy growth. TheStreet's Rhonda Schaffler has details from New York.