Wall Street unimpressed after Fed chief refuses to rule out return to modest increases should financial market turmoil blow overThe chair of the Federal Reserve has dropped the broadest of hints that it has do future US interest rate increases on hold following the plunge in global stock markets since the start of the year.
In testimony before Congress, Janet Yellen admitted that the selloff in shares on Wall Street had affected the growth prospects for the worlds biggest economy and left investors in little doubt that the US central bank had no intention of following final December’s increase in the cost of borrowing with a moment increase in March. Related: There wasn't much Yellen could say that wouldn't have spooked the markets Related: Global markets fall after US jobs report raises prospect of interest rate rise Related: Federal Reserve keeps interest rates unchanged while monitoring markets Continue reading...
Source: theguardian.com