Feb
11
Don’t Blame Fed for Turmoil, Yellen Says as Equity Rout Deepens
By-
Fed chair says reversal of rate hike not most likely scenario
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Traders seem to disagree as they bet on a rate cut in 2016
Federal Reserve Chair Janet Yellen said the central bank was not to blame for the tumult that has engulfed financial markets this year and is unlikely to roll back its December interest-rate increase in response.
Winding up two days of testimony on Capitol Hill, Yellen argued that the Fed’s first rate rise in nine years had been widely anticipated by investors and so prompted scant angst in the markets. It was only after the start of the year that trading turned turbulent in response to a depreciation of China’s currency and a dive in oil prices, she said…
Don’t Blame Fed for Turmoil, Yellen Says as Equity Rout Deepens
