Yellen warns from delaying rate-hike decisions

Federal Reserve Chair Janet Yellen warned in her testimony today ahead of U.S. Congress from delaying rate-hike decisions this year, which could result in increased damages to the economy as inflation climbs.
 
Yellen reiterated her position that rate increases this year would be gradual as the economy moves towards the inflation and employment targets, while saying it's still early to see the effects of the fiscal stimulus on economic performance as the U.S. administration readies a large-scale stimulus plan.
 
Yellen pointed to the recent data as an evidence to the strength of the labor sector, while inflation marches steadily towards the bank's 2% target, while any change in the Fed's monetary policy will depend on the data.