Yellen: volatile global outlook calls for gradual hikes

Janet Yellen of the Federal Reserve
Janet Yellen

Federal Reserve chair Janet Yellen offered a cautious outlook in emphasising volatile global conditions on March 29, in a speech pitched to soothe concerns over the pace of rate hikes.

"Developments abroad" imply the Fed will need to pursue a "somewhat lower path" for interest rates than indicated at the December meeting, she told the Economic Club of New York. "Given the risks to the outlook, I consider it appropriate for the committee to proceed cautiously in adjusting policy," she said.

Yelle

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