6.1 C
London
Wednesday, December 2, 2020

Janet Yellen: Pace of future US rate hikes could be slowed

Must read

Joe Biden’s victory certified in two key states as Donald Trump fights on

Two battleground states, Wisconsin and Arizona, certified their presidential election results in favour of Joe Biden, even as President Donald Trump’s legal team continued...

China probe lands on moon in bid to return lunar rocks to Earth

A Chinese robot probe sent to return lunar rocks to Earth for the first time since the 1970s landed on the moon, the government...

Belarus opposition to make list of police officers accused of abuse

Belarus’ opposition will compile a register of police officers accused of abuses against peaceful demonstrators protesting the reelection of the country’s authoritarian leader, an...

Two killed as car ploughs into pedestrian zone in German city

Two people were killed and several injured in the southwestern German city of Trier when a car drove into a pedestrian zone, police said. Trier...

The US economy faces a number of global threats that could derail growth and compel the Federal Reserve to slow the pace of future interest rate hikes, chair Janet Yellen has said.

In her report to Congress on Wednesday, she noted the widening fallout from concerns over China’s weaker currency and economic outlook, which is rattling financial markets around the world.

While the Fed expects to raise interest rates gradually, they are not on any pre-set course, she said. The Fed would likely move slower “if the economy were to disappoint”.

Ms Yellen did mention in her prepared comments to the House Financial Services Committee that it was possible that the recent economic weakness could prove temporary, setting the stage for faster economic growth and a stronger increase in inflation than the Fed is currently forecasting.

Should that occur, the Fed will be ready to hike rates more quickly than currently anticipated.

- Advertisement -

More articles

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -

Latest article

Joe Biden’s victory certified in two key states as Donald Trump fights on

Two battleground states, Wisconsin and Arizona, certified their presidential election results in favour of Joe Biden, even as President Donald Trump’s legal team continued...

China probe lands on moon in bid to return lunar rocks to Earth

A Chinese robot probe sent to return lunar rocks to Earth for the first time since the 1970s landed on the moon, the government...

Belarus opposition to make list of police officers accused of abuse

Belarus’ opposition will compile a register of police officers accused of abuses against peaceful demonstrators protesting the reelection of the country’s authoritarian leader, an...

Two killed as car ploughs into pedestrian zone in German city

Two people were killed and several injured in the southwestern German city of Trier when a car drove into a pedestrian zone, police said. Trier...

Unemployment falls in Germany despite partial coronavirus shutdown

Germany’s unemployment rate dipped in November despite a partial shutdown introduced to halt a sharp rise in coronavirus infections, official data showed. However, estimates suggest...
%d bloggers like this: