Carlo Allegri/Reuters
Federal Reserve Chair Janet Yellen arrives to receive her honorary doctorate degree from New York University (NYU) at Yankee Stadium in the Bronx borough of New York May 21, 2014.
Yellen is delivering the keynote at the University of Baltimore's commencement, where she will also receive an honorary doctor of laws degree.
As expected, the Federal Open Markets Committee decided last week to raise its benchmark interest rate. In a bit of a surprise, it also increased its longer-term forecast for interest rates.
In explaining the decision to reporters, Yellen said the labor market was "in the vicinity of maximum employment," meaning that nearly all of the spare resources that are available are being used.
She added that fiscal stimulus, which the administration of President-elect Donald Trump has promised to provide, is not needed to push the economy into full employment.
This might be Yellen's last public speech before Trump takes office on January 20. During the press conference on Wednesday, she said she was not thinking about leaving the Fed after her term as chair ends in 2018, following Trump's criticisms of her approach to monetary policy.
We'll have the full details of Yellen speech once it's out, so refresh this page for updates.