While you were sleeping: Yellen lifts US dollar

Tue, 26 Sep 2017

By Margreet Dietz Sept. 27 (BusinessDesk) - The US dollar strengthened while Wall Street held on to gains after Federal Reserve Chair Janet Yellen warned against the central bank moving “too gradually” on tightening monetary policy. “A gradual approach is particularly appropriate in light of subdued inflation and a low neutral real interest rate, which imply that the FOMC [Federal Open Market Committee] will have only limited scope to cut the federal funds rate should the economy be hit with an adverse shock,” Yellen said in prepared rem...

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