The Federal Reserve should raise interest rates "in the coming months" if the economy picks up as expected and jobs continue to be generated, U.S. central bank chief Janet Yellen said on Friday, bolstering the case for a rate increase in June or July. "It's appropriate ... for the Fed to gradually and cautiously increase our overnight interest rate over time, and probably in the coming months such a move would be appropriate," Yellen said during an appearance at Harvard University. Although Yellen expressed caution about too steep a rise in U.S. rates, she sounded more confident than she has in the past that the U.S. economy has rebounded from a weak winter and that inflation would edge higher toward the Fed's 2 percent target.
MIAMI (AP) — U.S. government forecasters expect a near-normal Atlantic hurricane season, after three relatively slow years. But they also say climate conditions that influence storm development are making it difficult to predict how many hurricanes and tropical storms will arise over the next six months.
The hackers behind the $81 million heist from the Bangladesh central bank have likely been involved in a series of attacks on the financial system, a US security firm has concluded. Researchers at the security firm Symantec also found that the malware used in the bank hacks shares code with that used in the massive 2014 cyberattack against Sony Pictures. Symantec said a bank in the Philippines has been attacked by the group that hit the Bangladesh central bank and attempted a heist from the Tien Phong Bank in Vietnam.