US Interest Rate Hike Appropriate in Coming Months

WASHINGTON (Sputnik) — The United States could see the next interest rate hike in upcoming months, US Federal Reserve Chair Janet Yellen stated on Friday.

"I think for the Fed to gradually and cautiously increase our overnight interest over time and probably in the coming months, such a move would be appropriate," Yellen said at Harvard University in Boston.

On Thursday, Federal Reserve Governor Jerome Powell also noted that the increase of the US interest rate may be appropriate "fairly soon."

The Federal Open Market Committee (FOMC) said earlier in spring the interest rate hike possibility remains open for the policy meeting in June.

On April 27, the FOMC announced that the US interest rates will stay unchanged at the 0.25-0.5 percent range.