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In Brief

Yellen: Expect Fed to gradually hike rates over next 3 yearsWASHINGTON (AP) — Federal Reserve Chair Janet Yellen says she expects the Fed to raise its benchmark interest rate several times a year through 2019, as it moves closer toward to its economic goals of maximum employment and stable inflation.But in a speech in San Francisco Wednesday, she said she can’t say when the next interest rate will occur or how high rates will rise. She says that will depend on how the economy performs in the coming months.

American Airlines to sell restricted `basic economy’ ticketDALLAS — American Airlines announced Wednesday that passengers will be able to buy “basic economy” tickets starting next month that will be similar to bare-bones fares already offered by Delta Air Lines and soon to be matched by United Airlines.If you want to get the cheapest fare on American or United, you will have to leave that rolling carry-on bag at home. Passengers who pay basic-economy rates on those carriers will be limited to one item that fits under their seat — no wheeled bags that take up space in the overhead bins.

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