The Fed Chairwoman Janet Yelllen testified before the House Financial Services Committee on Wednesday. She said that the interest rate hike this year is still possible, adding that the decision has not been made yet. Yellen pointed out that the Fed's decision will be depend on the incoming economic data.
The Fed chairwoman noted that the U.S. economy is performing well.
"Domestic spending has been growing at a solid pace," she said.
Yellen said the U.S. inflation is still well below the Fed's 2% target due to the low energy prices.