Fed chief says current policy is ‘accomodative’ and is confident that oil prices,job creation and faster wage growth will spur income and consumer spending risesFederal Reserve chair Janet Yellen continued to forecast gradual increases in interest rates on Wednesday despite the global tumult in stock markets that followed the Fed’s first rate rise since the recession.“Financial conditions in the United States believe recently become less supportive of growth, with declines in wide measures of equity prices, and higher borrowing rates for riskier borrowers,and a further appreciation of the dollar,” Yellen told the House financial services committee in her first major speech in two months. Continue reading...
Source: theguardian.com