Receive Breaking News updates as they occur
Speaking at Harvard University, Yellen said she believed US economic growth and the labor market would continue to strengthen after the first-quarter slowdown, and that the Fed's early-2016 worries over the global economy and market volatility had diminished. "The economy is continuing to improve," Yellen confirmed.
Johnny Depp's wife appeared in court Friday with bruises on her face, accusing the Hollywood star of assaulting her, and seeking a restraining order against him, celebrity news website TMZ reported. Amber Heard, who filed for divorce in Los Angeles earlier this week and is seeking spousal support from the 52-year-old "Pirates of the Caribbean" star, says she is the victim of repeated physical attacks by Depp, TMZ said. The website published a picture showing Heard, 30, with a bruise around her right eye, reporting that the actress says it was taken shortly after Depp smashed his iPhone into her face on Saturday night.
The Federal Reserve should raise interest rates "in the coming months" if the economy picks up as expected and jobs continue to be generated, U.S. central bank chief Janet Yellen said on Friday, bolstering the case for a rate increase in June or July. "It's appropriate ... for the Fed to gradually and cautiously increase our overnight interest rate over time, and probably in the coming months such a move would be appropriate," Yellen said during an appearance at Harvard University. Although Yellen expressed caution about too steep a rise in U.S. interest rates, she sounded more confident than she has in the past about economic growth and the prospect of inflation edging higher toward the Fed's 2 percent target.