Yellen bats away calls for simple rules-based policy

Federal Reserve chair Janet Yellen

Janet Yellen continues to reject calls for the Federal Reserve to adopt a simple rules-based approach to monetary policy, today (July 15) telling the Committee on Financial Services "the world is more complicated than that".

Congressman Bill Huizenga quizzed Yellen on the merits of a rules-based approach, insisting he was not trying to "handcuff" the Federal Reserve.

Yellen said she favours a systematic monetary policy, pointing to the Fed's statement on its longer-run goals and strategy for ach

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