Yellen says US economy in good health; sparks talk of rate hike

Washington

JANET Yellen, chairman of the Federal Reserve, said on Sunday that the US economy was in good health in an upbeat assessment that reinforced expectations the Fed is planning to raise its benchmark interest rate later this year.

Job growth is strong, companies are increasing investment, and the United States is benefiting from the improved health of the global economy, she said in remarks to the Group of 30, which hosts gatherings of international policymakers and private sector bankers.

Referring to the Fed's benchmark rate, she said: "We continu…