Yellen rebuffs pressure to hike rates as Fed gives economy room to run

Washington

FEDERAL Reserve chair Janet Yellen braved mounting opposition inside and outside the US central bank and delayed an interest-rate increase again to give the economy more room to run.

While agreeing that the case for a rate rise had strengthened, Ms Yellen on Wednesday argued that it made sense to put off a move for now amid signs that discouraged Americans who dropped out of the labour market are returning and looking for work.