Yellen cites global risks to US recovery but says economy will pull through
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Washington
TIGHTENING financial conditions driven by falling stock prices, uncertainty over China and a global reassessment of credit risk could throw the US economy off track from an otherwise solid course, Federal Reserve chair Janet Yellen said on Wednesday in prepared testimony to Congress.
In testimony that combined a steady-as-she-goes account of Fed policy with an acknowledgement of intensifying risks, Ms Yellen said that there are good reasons to believe the United States will stay on a path of moderate growth that will allow the Fed to pursue "gradual" adjustments to monetary policy.
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