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Case for US rate hike 'has strengthened' says Yellen

Janet Yellen said the case for an interest rate increase has strengthened in recent months

Justifications for an interest rate increase in the United States have grown in recent months, US Federal Reserve Chair Janet Yellen said Friday.

"In light of the continued solid performance of the labor market and our outlook for economic activity and inflation, I believe the case for an increase in the federal funds rate has strengthened in recent months," Yellen told the Fed's annual central banking symposium in Jackson Hole, Wyoming.