Fed Yellen says case for another rate hike has strengthened

Federal Reserve Chair Janet Yellen said the case for another interest rate hike has strengthened in recent months.

“In light of the continued solid performance of the labor market and our outlook for economic activity and inflation, I believe the case for an increase in the federal funds rate has strengthened in recent months,” Yellen said in a speech prepared for delivery to the Jackson Hole Symposium on Friday.

Yellen also says the US economy is now nearing the Fed's goals of maximum employment and price stability.