Yellen Speaks to Global Central Bankers During Market Turmoilby
Fed Chair holds calls with Carney, Draghi, meets with Carstens
Markets roiled by low oil prices and fears of recession
Federal Reserve Chair Janet Yellen spoke to her counterparts in Britain, continental Europe, and Mexico in the depths of February’s market turmoil.
Yellen’s agenda, released Friday, shows a telephone call with Bank of England Governor Mark Carney on Feb. 11, and a call with European Central Bank President Mario Draghi on Feb. 12. She met personally with Bank of Mexico Governor Agustin Carstens on Feb. 19.
The Standard and Poor’s 500 index plunged to the lowest level in almost two years on Feb. 11, and the yield on 10-year government bonds dropped to 1.66 percent, a rate last undershot at the start of 2015. Financial markets were troubled by a slide in oil prices to the weakest since 2003 and perceptions of rising recession risks in the U.S.
Yellen spent Feb. 26-27 meetings with finance ministers and central bank governors from the Group of 20 in Shanghai, her calendar shows.