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Weekly Wrap: Janet Yellen cries hawk

Despite the slowing growth rate, Federal Reserve Board Chair Janet Yellen voiced optimism about the economy at the central bank's annual Jackson Hole summit. Win McNamee/Getty Images

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Markets closed mixed after Federal Reserve Board Chair Janet Yellen said interest rates definitely, could, maybe go up in the next few to several months, probably. That kind of vagueness is nothing new.

Specifically, Yellen said during her speech in Jackson Hole, Wyoming, today that “the case for an increase in the federal funds rate has strengthened in recent months.” We tried to parse that statement on the Weekly Wrap today. Is the Fed crying wolf? Redfin’s Nela Richardson argued it might be crying hawk — that is, acting like it will raise rates twice this year, but backing out at the first sign of trouble.

Click the audio player above to listen to their conversation.

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