Federal Reserve Chair Janet Yellen said the U.S. economy faces a number of global threats that could hamper growth and compel the Fed to slow the pace of future interest rate hikes.
She highlighted in her semiannual report to Congress the widening fallout from concerns over China’s weaker currency and economic outlook, which is rattling financial markets around the world.
While the Fed expects to raise interest rates gradually, they are not on any preset course, she said Wednesday. The Fed would likely move slower “if the economy were to disappoint.”
