The Latest: Yellen says case for rate hike is stronger

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  • Federal Reserve Chair Janet Yellen testifies on Capitol Hill in Washington, Thursday, Nov. 17, 2016, before the Joint Economic Committee. Yellen sketched a picture of an improving U.S. economy and said "the case for an increase" in interest rates has strengthened. The Fed is widely expected to raise rates when it meets in mid-December. (AP Photo/Susan Walsh)

    Federal Reserve Chair Janet Yellen testifies on Capitol Hill in Washington, Thursday, Nov. 17, 2016, before the Joint Economic Committee. Yellen sketched a picture of an improving U.S. economy and said "the case for an increase" in interest rates has ... strengthened. The Fed is widely expected to raise rates when it meets in mid-December. (AP Photo/Susan Walsh) (The Associated Press)

  • Federal Reserve Chair Janet Yellen smiles as she arrives to testify on Capitol Hill in Washington, Thursday, Nov. 17, 2016, before the Joint Economic Committee. Yellen sketched a picture of an improving U.S. economy and said "the case for an increase" in interest rates has strengthened. The Fed is widely expected to raise rates when it meets in mid-December. (AP Photo/Susan Walsh)

    Federal Reserve Chair Janet Yellen smiles as she arrives to testify on Capitol Hill in Washington, Thursday, Nov. 17, 2016, before the Joint Economic Committee. Yellen sketched a picture of an improving U.S. economy and said "the case for an increase"... in interest rates has strengthened. The Fed is widely expected to raise rates when it meets in mid-December. (AP Photo/Susan Walsh) (The Associated Press)

  • Joint Economic Committee ranking member Rep. Carolyn Maloney, D-N.Y., left,  questions Federal Reserve Chair Janet Yellen, center, as Committee Chairman Sen. Dan Coats, R-Ind. listens at right, on Capitol Hill in Washington, Thursday, Nov. 17, 2016. Yellen sketched a picture of an improving U.S. economy and said "the case for an increase" in interest rates has strengthened. The Fed is widely expected to raise rates when it meets in mid-December. (AP Photo/Susan Walsh)

    Joint Economic Committee ranking member Rep. Carolyn Maloney, D-N.Y., left, questions Federal Reserve Chair Janet Yellen, center, as Committee Chairman Sen. Dan Coats, R-Ind. listens at right, on Capitol Hill in Washington, Thursday, Nov. 17, 2016. ... Yellen sketched a picture of an improving U.S. economy and said "the case for an increase" in interest rates has strengthened. The Fed is widely expected to raise rates when it meets in mid-December. (AP Photo/Susan Walsh) (The Associated Press)

The latest on Federal Reserve Janet Yellen's testimony to Congress' Joint Economic Committee (all times Eastern):

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10:10 a.m.

Federal Reserve Chair Janet Yellen is delivering before the Joint Economic Committee, made up of lawmakers from the House and Senate.

Rep. Carolyn Maloney, D-New York, praises Yellen for her "steady hand" in helping to lift the economy out of a deep recession. Maloney says that it is her hope that the Fed would remain insulated from political attacks.

In prepared remarks, Yellen sketches a picture of an improving U.S. economy and says "the case for an increase" in interest rates has strengthened. The Fed is widely expected to raise rates when it meets in mid-December. She notes that the job market has made further improvement this year and that inflation, while still below the Fed's 2 percent target, has started to pick up.