by Denise Roland, The Telegraph:
Janet Yellen, head of the US Federal Reserve, has warned there is “considerable uncertainty” in the outlook for the world’s biggest economy.
She said the Fed was closely monitoring developments in the US economy to determine the future path of interest rates, which have been at rock-bottom levels since 2008 to support the economy’s recovery from deep recession.
“If the labour market continues to improve more quickly than anticipated by the committee, resulting in faster convergence toward our dual objectives, then increases in the federal funds rate target likely would occur sooner and be more rapid than currently envisioned,” Ms Yellen told the Senate Banking Committee.
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