SEVERE THUNDERSTORM WATCH

Until 10 PM

The National Weather Service in Grand Rapids and northern Indiana issues a SEVERE THUNDERSTORM WATCH for Van Buren, Kalamazoo, Calhoun, Berrien, Cass, St. Joe, and Branch counties until 10 PM.  Damaging wind gusts of 60 mph or greater are the primary concern.  Large hail of 1" in diameter or larger is a close second.  We'll be tracking storm development with Live Doppler Radar throughout your afternoon and evening.  Storm motion is easterly at 30 to 50 mph.  Stay with wwmt.com for the latest weather information!

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Fed's Yellen downplays long-term inflation risk

Updated: Wednesday, June 18 2014, 11:12 PM EDT
Fed
WASHINGTON (AP) - Federal Reserve Chair Janet Yellen is downplaying concerns about rising inflation despite recent signs that price increases are picking up.

Consumer prices have risen 2.1 percent in the past 12 months, the Labor Department said Tuesday. If maintained over time, that rate would exceed the Fed's target for inflation of  2 percent and signal a potential need to raise short-term interest rates from near zero.

Higher rates could possibly limit economic growth. But at a news conference, Yellen is suggesting that rising inflation may prove temporary. "The data that we're seeing is noisy," she says.

Fed officials closely monitor a separate inflation measure. That index amounted to 1.6 percent in April. Fed officials project that inflation will stay at or below the 2 percent target through 2016.
Fed's Yellen downplays long-term inflation risk
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