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2017-03-03 — cnbc.com
Yellen noted that core inflation -- excluding volatile food and energy prices -- is at 1.7 percent, just below the Fed's 2 percent target, while job creation is growing ahead of the pace needed to sustain the 4.8 percent unemployment rate. She also said global economic risks had receded and believes the Fed is not behind the curve on rates.
... just a week ago the market was assigning barely a 1-in-5 chance of a March hike. Just after Yellen began speaking, the probability had moved from nearly 78 percent to about 82 percent, according to the CME's tracking tool of fed funds futures.
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