On Wednesday, February 10th, 2016, Fed Chairman Janet Yellen gave testimony to a U.S. House committee. Her remarks are summed up into these key points:
FED EXPECTS ECONOMY TO WARRANT ONLY GRADUAL RATE RISES
JOB, WAGE GAINS SHOULD SUPPORT INCOMES AND SPENDING
LEVERAGE RISKS IN FINANCIAL SECTOR `REMAIN LOW’
FINANCIAL STRAINS COULD WEIGH ON OUTLOOK IF PERSISTENT
U.S. FINANCIAL CONDITIONS HAVE BECOME LESS SUPPORTIVE
LOWER OIL, LONG-TERM BORROWING COSTS PROVIDE OFFSET