NEW YORK Federal Reserve Chair Janet Yellen said on Tuesday the U.S. central bank should proceed only cautiously as it looks to raise interest rates, pushing back on a handful of her colleagues who have suggested another move may be just around the corner.
In her first comments since the Fed decided to hold rates steady two weeks ago, Yellen said inflation has not yet proven durable against the backdrop of looming global risks to the U.S economy, including still-low oil prices and concerns over China.
15:23 Poll: Americans more hopeful than negative after inauguration13
16:07 Can pro-choice and pro-life women find common ground? It’s complicated
15:02 U.S housing starts surge in December; jobless claims near 43-year low13
23:10 Tim Raines, Jeff Bagwell, Pudge Rodriguez elected to Baseball Hall of Fame18