http://www.bloomberg.com/news/artic...ll-expects-to-increase-interest-rates-in-2015 "Federal Reserve Chair Janet Yellen said the U.S. central bank is on track to raise interest rates this year, even as she acknowledged that economic “surprises” could lead them to change that plan." "“Most FOMC participants, including myself, currently anticipate that achieving these conditions will likely entail an initial increase in the federal funds rate later this year, followed by a gradual pace of tightening thereafter,” Yellen said during a speech Thursday in Amherst, Massachusetts. “But if the economy surprises us, our judgments about appropriate monetary policy will change.”" The late afternoon speech was significant, with some 32 pages, plus tables and graphs. Apparently in an usual move, she spoke of her own views on the subject of raising rates. Several TV commentators, opining on the speech, spoke of the global economic volatility (emphasis on China) and whether the 2% inflation target and declining unemployment goals could be reached so quickly as to implement a December rate increase. The speech transcript had not been posted on the Fed's web site as I type this. I wonder if Yellen and company is feeling the heat of Bill Gross' vociferous campaign to "get off zero now" (http://www.forbes.com/sites/laurengensler/2015/09/23/bill-gross-fed-interest-rates/). Bloomberg and CNBC, among other media outlets are al carrying this story.