Yellen testimony wrap-up: Fed cautious on rates due to Brexit, US hiring slowdown
22 June 2016, 07:00
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Janet Yellen appeared in the US Congress Tuesday (or as I like to call it, 'overnight')
Reuters have a bit of a recap up on what they say was "a generally civil 2-1/2-hour hearing"
It's
a bit of a disgrace when we have to mention that it was generally
civil. Still, I often describe Yellen's questioners as a bunch of
buffoons (when I'm being polite), so I guess mea culpa...
Anyway ...
- The Federal Reserve's ability to raise interest rates this year may hinge on a rebound in hiring that would convince policymakers the U.S. economy isn't faltering, Fed Chair Janet Yellen told lawmakers on Tuesday
- Expressed general optimism about the economy
- Played down the risk of a recession
- Fed will be cautious about interest rate increases until it is clear the job market is holding up
