Fed´s Yellen sounds confident note, still expects gradual tightening

Further gradual interest rate increases in the US were likely to be appropriate, the head of America´s central bank said.

Nevertheless, during her speech at the World Affairs Council of Philadelphia Yellen did not provide any exact date for the monetary authority´s next move on policy.

"If incoming data are consistent with labor market conditions strengthening and inflation making progress toward our 2% objective, as I expect, further gradual increases in the federal funds rate are likely to be appropriate and most conducive to meeting and maintaining those objectives," Yellen said.

"I see good reasons to expect that the positive forces supporting employment growth and higher inflation will continue to outweigh the negative ones. As a result, I expect the economic expansion to continue, with the labor market improving further and GDP growing moderately."

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