While you were sleeping: Yellen lifts markets

Wed, 12 Jul 2017

By Margreet Dietz July 13 (BusinessDesk) - Wall Street and US Treasuries rallied after US Federal Reserve Chair Janet Yellen flagged that lower-than-expected inflation will likely keep the pace of interest rate increases in check. “The federal funds rate would not have to rise all that much further to get to a neutral policy stance,” Yellen said in her semiannual testimony to Congress, speaking before the House Financial Services Committee on Wednesday. In 3.26pm trading in New York, the Dow Jones Industrial Average climbed 0.7 percent...

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