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Fed's Yellen says U.S. still on track for more rate hikes

Federal Reserve chair Janet Yellen (L to R) and former Federal Reserve chairs Ben Bernanke and Paul Volcker appear together for the first time in New York, April 7, 2016. REUTERS/Kathy Willens/Pool

NEW YORK (Reuters) - The U.S. economy is on a solid course and still on track to warrant further interest rate hikes, Federal Reserve Chair Janet Yellen said on Thursday.

Speaking at a panel with former chiefs of the U.S. central bank, Yellen said the labor market was "close" to full strength and that inflation was currently held back by temporary factors.

(Reporting by Jonathan Spicer in New York; Additional reporting by Jason Lange in Washington; Editing by Diane Craft)