(MENAFN) According to the Fed chair, the US Federal Reserve in on track to raise interest rate later this year, as economists expect the economy to continue gaining momentum, Xinhua reported.
The chair delivered optimistic economic outlook remarks to the House Committee on Financial Services and defended the central bank's accountability and transparency amid lawmakers' attacks.
The U.S. central bank expects an interest rate hike would likely become appropriate before year end if the economy continues to strengthen, she repeated.
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