Fed Chair Janet Yellen gives testimony to Joint Economic Committee | Reuters.com

Fed Chair Janet Yellen gives testimony to Joint Economic Committee

  • Yellen cites housing, geo-political risk to economy

    (Reuters) Federal Reserve Chair Janet Yellen said the central bank will continue to provide a high degree of monetary policy accommodation, and cited geo-political turmoil and weak housing data as risks to the U.S. economy.

    Yellen, speaking to the congressional Joint Economic Committee on Wednesday, also indicated concerns over investors exerting risky behavior given the extended period of low interest rates.

    "Some reach-for-yield behavior may be evident," Yellen said in her prepared testimony, pointing to the lower-rated corporate debt markets as an example.

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Russian firepower helps Syrian forces edge toward Turkey border

BEIRUT/ONCUPINAR, Turkey The Syrian army advanced toward the Turkish border on Monday in a major offensive backed by Russia and Iran that rebels say now threatens the future of their nearly five-year-old insurrection against President Bashar al-Assad. | Video