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Fed Sees Risks to U.S. Economic Growth
Federal Reserve Chair Janet Yellen tells Congress the financial climate in the U.S. has “become less supportive of growth,” hinting that the central bank may delay plans to make several small interest rate increases in 2016.
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Federal Reserve Chair Janet Yellen tells Congress the financial climate in the U.S. has “become less supportive of growth,” hinting that the central bank may delay plans to make several small interest rate increases in 2016.
Yellen says factors that could weigh on the country’s economic outlook include a volatile stock market, stalled consumer prices, China’s slowing economy and the strengthening dollar.
She also discounts the notion that the U.S. could be heading back into a recession, warning against drawing premature conclusions about the economy. Observers describe Yellen's position as cautious rather than downbeat.
Analysts say a series of economic reports due over the next several weeks should help sharpen the Fed’s outlook before its next policy meeting March 15-16.
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