Yellen Tells Senators No Rate Rise Soon Amid Concerns Abroad

Federal Reserve Chair Janet Yellen told Senate Democrats she’s encouraged by the national economy even as she expressed some concern about the pace of hiring in the U.S. and the weakening global outlook.

“Her message is that the economy’s getting better but there’s still a ways to go in terms of job creation,” New York Senator Charles Schumer said today in an interview on Capitol Hill. “That worry seems, in her mind, to be paramount and that’s why she is not going to raise rates immediately.”