Federal Reserve System may raise discount rate

Federal Reserve System may raise discount rate

The US Federal Reserve System may raise the discount rate in the near future, the Federal Reserve officials said.

"Further gradual increases in the federal funds rate are likely to be appropriate," Federal Reserve Chair Janet Yellen said, but didn't give any hints about the timing of a next rate increase.

Recall, the Labor Department report on Friday showed employers added just 38,000 jobs in May. "New questions about the economic outlook have been raised by recent labor market data," Yellen explained.

"The uncertainties are sizable, and progress toward our goals and, by implication, the appropriate stance of monetary policy will depend on how these uncertainties evolve," Federal Reserve Chair said.

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