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Janet Yellen signals Fed will likely increase interest rates this month

Federal Reserve chairwoman Janet Yellen indicated Friday that an increase in the federal interest rate will likely come later this month, assuming there are no unanticipated economic developments. "At our meeting later this month, the committee will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal funds rate would likely be appropriate," Yellen said.

Economists have sensed that the economy is nearing the end of its rebound period after the 2008 financial crisis, meaning continued low interest rates could push growth into unsustainable territory; Yellen also noted the economy’s "remarkable resilience" against overseas turbulence.

The Federal Open Market Committee’s meetings are scheduled for March 14 and 15, and Yellen’s speech Friday was the last opportunity to publicly signal the Fed’s intentions before the meeting. Jeva Lange

British rock star Rod Stewart apologized Friday for a video he made with friends during a recent trip to Abu Dhabi. In the video, which was posted on his wife’s Instagram account but has since been deleted, Stewart and his friends can be seen "seemingly re-enacting an Islamic State-style execution," Politico reported:

In the clip, Stewart, currently on a world tour, can be seen leading friends along sand dunes. While [wife Penny] Lancaster rolls in the sand, Stewart appears to get a male friend to kneel down, hold him by the hair, and make what looks like a cutting motion across his throat. [Politico]

Stewart, 72, explained the video was simply the product of the crew "larking about pre-show," noting their previous stunts have ranged from "re-enacting the Beatles’ Abbey Road crossing to spontaneously playing out Game Of Thrones." "Understandably, this has been misinterpreted and I send my deepest apologies to those who have been offended," Stewart said in a statement.

You can watch Stewart’s bizarre, disturbing stunt below. Becca Stanek