Amid High Anticipation, Yellen to Address Economy and Rates

WASHINGTON (AP) -
The Federal Reserve building in Washington.
The Federal Reserve building in Washington.

Federal Reserve Chair Janet Yellen will give a widely anticipated speech on the economy and interest rates Monday after a dismal jobs report Friday raised doubts about the Fed’s timetable for a rate hike.

Investors will be reviewing Yellen’s speech in Philadelphia for any fresh hints about her outlook for rates and about the state of the economy.

In remarks she gave on June 3, Yellen had said that a rate hike would likely be appropriate “in the coming months” if the economy kept improving.

The question now is whether that assessment has changed. Lael Brainard, a Fed board member and Yellen ally, indicated Friday after the jobs report was released that the Fed should be in no hurry to raise rates.