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Fed chair Janet Yellen says continued market turmoil could throw off the central bank’s plan to gradually raise interest rates over the course of 2016.
After raising rates in December for the first time in nearly a decade, the Fed had planned to hike rates another four times this year—although those plans could be on standby for the time being, Bloomberg reports.
“Financial conditions in the United States have recently become less supportive of growth,” Yellen said before the House Financial Services Committee yesterday.
While Yellen points to uncertainty over China’s faltering economy and the falling price of oil, she says she remains open to the possibility of a March rate hike, assuming the current financial storm clears. [Bloomberg]
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