Many FOMC participants indicated in September that they anticipated, in light of their economic forecast at the time, that it would be appropriate to raise the target range for the Federal Funds Rate by the end of the year.
Yellen discusses the Federal Reserve's potential interest rate increase based on economic forecasts.
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I think this is an area where congressional legislation is appropriate to create an appropriate prudential framework.
We will respond to the letter, and I don't really have more to say about that.
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