Yellen: 1st rate hike likely by year end if economy improves

WASHINGTON (AP) -- Federal Reserve Chair Janet Yellen said Friday she expects to begin raising interest rates later this year — if the job market improves and the Fed is confident inflation will climb closer toward its target rate.

Jobless claims, factory data put some shine on economy

(Reuters) - New claims for jobless benefits hovered near their pre-recession levels last week and manufacturing in the Mid-Atlantic region accelerated in April, suggesting an upswing in economic activity after a brutally cold winter.