Economics
Yellen Suggests Fed May Delay Rate Rises, Not Abandon Them
- Market turmoil "significantly" tightened financial conditions
- Fed chair non-committal on possible use of negative rates
Inside Janet Yellen's Testimony on Negative Rates
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Federal Reserve Chair Janet Yellen suggested that the central bank might delay, but not abandon, planned interest-rate increases in response to recent turmoil in financial markets.
In presenting the Fed’s semi-annual economic report to Congress, Yellen said the turbulence had "significantly" tightened financial conditions by pushing down stock prices, pushing up the dollar and raising some borrowing costs.