Yellen: "Financial conditions in the United States have recently become less supportive of growth"

From Fed Chair Janet Yellen: Semiannual Monetary Policy Report to the Congress . Excerpt: Financial conditions in the United States have recently become less supportive of growth , with declines in broad measures of equity prices, higher borrowing rates for riskier borrowers, and a further appreciation of the dollar. These developments, if they prove persistent, could weigh on the outlook for economic activity and the labor market, although declines in longer-term interest rates and oil prices provide some offset. Still, ongoing employment gains and faster wage growth should support the......(read more)

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