Federal Reserve Chairwoman Janet Yellen said that the Fed may need to raise interest rates sooner than expected, but it all will hinge on the 
labor market. “While this sector has recovered notably from its earlier trough, housing activity leveled off in the wake of last year's increase in mortgage rates, and readings this year have, overall, continued to be disappointing. The recent flattening out in housing activity could prove more protracted than currently expected rather than resuming its earlier pace of recovery. Monetary Policy Report and made the case that while the economy has seen improvement the economic recovery is still too fragile to deviate from the present course, read more.
labor market. “While this sector has recovered notably from its earlier trough, housing activity leveled off in the wake of last year's increase in mortgage rates, and readings this year have, overall, continued to be disappointing. The recent flattening out in housing activity could prove more protracted than currently expected rather than resuming its earlier pace of recovery. Monetary Policy Report and made the case that while the economy has seen improvement the economic recovery is still too fragile to deviate from the present course, read more.
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