Janet Yellen, Federal Reserve Chair, will address congress today and cite global economic troubles that could negatively impact the United States economy.
As reported by Paul Davidson, USA Today, Yellen’s prepared testimony before the House Financial Services Committee is not explicit on whether the Fed will bump up its benchmark interest rate again in March after lifting it in December for the first time in nine years.
But the remarks suggest the overseas weakness and market distress could threaten the Fed’s plans to raise the rate gradually this year, including an increase at its March 15-16 meeting.
