The economy should continue to grow in coming years and allow the Federal Reserve to continue to raise interest rates, said Fed chief Janet Yellen.
”A considerable degree of uncertainty is always connected to the economic outlook. For example, there is uncertainty about when, and how much, as inflation will respond to the ever tighter resource utilization. The FOMC will monitor developments closely over the coming months,” she added.
Yellen also said the Fed expects to begin reducing the balance sheet in the year.