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Yellen speaking in Chicago after Fed officials hint rate hike is near (Chicago Tribune)

March 03, 2017

Several Federal Reserve officials have signaled in recent days that the Fed is ready to resume raising interest rates as soon as this month, the Chicago Tribune reports. The question is whether the official who matters most — Chair Janet Yellen — will add her own voice to that impression. Yellen speaks today in Chicago on the topic of the Fed’s economic outlook and investors will parse her words for any hint of how likely the central bank is to raise its key short-term rate after it next meets March 14-15. Already, though, traders in futures markets have put the probability of a rate hike at 75%, according to data tracked by the CME Group. Just last week, that probability had been pegged at well below 50%.