(RECAP: In a baseball game, the pitcher who comes in to get the final three outs in the ninth inning is called the closer, someone who has the final say on the outcome of the game. Fed Chairwoman Janet Yellen is going to play that role next month, in a speech on June 6 in Philadelphia. As a result, Yellen will have the last word on the outlook for interest rate policy before the U.S. central bank goes silent and prepares for its June 14-15 policy meeting. For Stephen Stanley, chief economist at Amherst Pierpont Securities, the timing of the chairwoman’s speech significantly raises the odds of a June interest rate hike.)

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