Federal Reserve Chairwoman Janet Yellen on Wednesday said interest-rate increases could begin in the first half of 2015, around six months after it winds down its bond-buying program.
The Fed, in its policy statement, said the benchmark federal-funds rate will remain near zero for a “considerable time” after its signature bond-buying program ends. For the first time, Ms. Yellen attempted to define that term, saying it is “hard to define” but “probably means something on the order of around six months.”
The Fed has been reducing its bond-buying program in $10 billion increments and is on track to wind it down this year.
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