WASHINGTON (dpa-AFX) - In a closely watched speech that may set the tone for next week's rate-setting meeting, Federal Reserve Chair Janet Yellen expressed renewed concerns about the health of the U.S. jobs market.
After the economy generated just 38,000 jobs in May, 'recent signs of a slowdown in job creation bear close watching,' Yellen said.
Still, Yellen expects the economy will continue to improve, allowing for 'gradual' rate hikes at an unspecified time.
'Inflation has been lower than our objective of 2 percent, but I expect it to move up over time,' she added.
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