Fed Chair Yellen upbeat on economy and inflation expectations

U.S. Federal Reserve Chair Janet Yellen has
given an upbeat assessment of the U.S. economy and inflation,… cementing expectations of
another rate hike at the end of the year. Speaking at a global banking seminar on Sunday,…
Yellen said low inflation had been a “surprise” this year,… but expects a rebound in price
growth… as temporary factors begin to fade. She added the U.S. economy has been growing
at a moderate pace all year… despite the impact of recent hurricanes,… and the labor
market has continued to strengthen. Most economists are expecting the Fed to raise
interest rates in December,… with three additional rate hikes to come in 2018.

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