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Tuesday, 7 June 2016
Major Outflows Face Britain Before #Brexit
Janet Yellen speaks at a World Affairs Council of Philadelphia event on Monday. Federal Reserve Chairwoman Janet Yellen affirmed Monday that the central bank won’t be raising short-term interest rates until new uncertainties about the economic outlook are resolved. Her comments, delivered at the World Affairs Council of Philadelphia, echoed conclusions investors drew Friday after the release of disappointing job market data . Ms. Yellen and other officials still believe they will be gradually lifting rates because they expect the economy to improve. However, a rate increase at the Fed’s policy meeting next week is now effectively off the table. An increase in July is possible but has become less likely, and a September move is possible if economic data show the economy is rebounding by then. Her comments represented a shift from less than two weeks ago, when she confidently said a strengthening meant the Fed likely would […]
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