Yellen testimony wrap-up: Fed cautious on rates due to Brexit, US hiring slowdown

22 June 2016, 07:00
Sherif Hasan

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
Share it with friends: