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![Federal Reserve Chair Janet Yellen speaks at a press conference on December 13, 2017 in Washington, DC. Yellen announced that the Federal Reserve was raising interest rates by a quarter of a point to 1.5%.](https://fm.cnbc.com/applications/cnbc.com/resources/img/editorial/2017/12/13/104896961-GettyImages-891727268.530x298.jpg?v=1540919530)
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Federal Reserve Chair Janet Yellen speaks at a press conference on December 13, 2017 in Washington, DC. Yellen announced that the Federal Reserve was raising interest rates by a quarter of a point to 1.5%.
Former US Federal Reserve Chairman Janet Yellen said on Tuesday that interest rates need to be raised further to prevent the economy from becoming too hot.
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