She didn’t give much away, but the market heard Yellen say the Fed is on course for interest rate increases

She didn’t give much away, but the market heard Yellen say the Fed is on course for interest rate increases

Federal Reserve chair Janet Yellen certainly didn’t say anything new in her testimony in front of the Senate Banking Committee this morning. But that in itself was enough to push market expectations for a Federal Reserve interest rate increase higher. The Fed Funds futures market, according to Bloomberg, saw 34% odds on a March interest rate increase after her talk. That was up from 30% before she spoke.