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Fed could delay raising interest rates, Janet Yellen indicates

Fed could delay raising interest rates, Janet Yellen indicates

Federal Reserve Chairwoman Janet L. Yellen indicated Wednesday that the Federal Reserve could delay further raising a key interest rate while the U.S. economy faces increased pressure from slower global growth and roiling financial markets.

Despite those risks, Yellen said the U.S. appeared to be weathering the turmoil. She said she does not believe the Fed will be forced to reverse course and reduce the benchmark short-term interest rate.

“We've not yet seen a sharp drop-off in growth either globally or in the United States, but we certainly recognize that global market developments bear close watching,” Yellen told members of the House Financial Services...

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