Yellen says economy likely ready for rate hike later in 2016

WASHINGTON (AP) — Federal Reserve Chair Janet Yellen said Wednesday that the central bank has no "fixed timetable" for raising interest rates but she believes the economy is ready for a rate hike by the end of the year.

  • Written by MARTIN CRUTSINGER, AP Economics Writer

Wells Fargo CEO to face lawmakers with better defense

WASHINGTON (AP) — Wells Fargo's CEO, newly stripped of tens of millions in compensation in a scandal over sales practices, will face lawmakers with more defenses than he had in the last round, when some senators called for his resignation.

  • Written by MARCY GORDON, AP Business Writer