Fed Chair Janet Yellen gives testimony to Joint Economic Committee | Reuters.com
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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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Kerry defends diplomacy as Russian-backed forces pound Aleppo

CARTAGENA, Colombia/BEIRUT U.S. Secretary of State John Kerry defended his efforts to negotiate with Moscow over the war in Syria on Monday, despite the collapse of a ceasefire that has led to a massive Russian-backed assault on the besieged rebel-held sector of Aleppo.