(Bloomberg) -- Federal Reserve Chair Janet Yellen suggested that the central bank might delay, but not abandon, planned interest-rate increases in response to recent turmoil in financial markets.
In presenting the Fed’s semi-annual economic report to Congress, Yellen said the turbulence had "significantly" tightened financial conditions by pushing down stock prices, pushing up the dollar and raising some borrowing costs.
"These developments, if they prove persistent, could weigh on the outlook for economic activity and the labor market," she told the House Financial Services Committee on Wednesday.
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