USA Today: Fed’s Yellen cites growing risks to economy

From USA Today — Federal Reserve Chair Janet Yellen  told Congress Wednesday that global economic troubles and the recent selloff in stocks could rattle the U.S. economy, raising the prospect of a delay in interest rate hikes …

Yellen said financial conditions have become “less supportive of growth,” citing higher Interest rates for riskier borrowers and the strengthening dollar, which has hurt exports, in addition to the fall in stocks.

“These developments, if they prove persistent, could weigh on the outlook for economic activity and the labor market, although declines in longer-term interest rates and oil prices could provide some offset,” Yellen said in her semiannual monetary policy report to Congress.

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