Speaking before Congress yesterday, Federal Reserve Chair Janet Yellen signaled the central bank’s careful approach to future interest-rate increases, pointing to the accumulating risks to the global economy. Yellen acknowledged that the potential for a sustained slowdown in China and other emerging economies, falling stock prices and other financial-market turbulence, and the glut of cheap oil, all could dampen U.S. growth. She also sounded a cautious note on the growing strength of the dollar and rising interest rates for risky borrowers. Still, she said that a slowdown in U.S. growth was more likely than an outright recession. To read more, click here.
