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Brad Sherman

The Latest: Democrat urges Yellen to wait on rate hikes

The latest on Federal Reserve Chair Janet Yellen's mid-year economic outlook and testimony to Congress (all times local): ___ 12:35 p.m. While Republicans urged Federal Reserve Chair Janet Yellen to consider adopting a rule to govern when the Fed raises interest rates, some Democrats urged her not to raise rates at all, at least not this year. Rep. Brad Sherman, D-California, said that the Fed should take a page from Mother Nature and wait until next year. "Spring is when things naturally rise," he told Yellen. He told Yellen not to underestimate the ability of politicians on both sides of the Atlantic "to screw things up." For European politicians, that...

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