Yellen underlines the importance of education for the economy

Janet Yellen of the Federal Reserve
Fed chair Janet Yellen

A good education "enhances" one's ability to adapt to a changing economy, the chair of the Federal Reserve told graduates at the University of Baltimore on December 19.

Speaking at the university's mid-year commencement, Janet Yellen underlined the important role technology and globalisation were playing in the global economy, noting how offshoring and trade had "profoundly" affected the US.

However, Yellen also warned that while globalisation will likely continue and technology will advance

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