Wall St. rises as Yellen hints at 'gradual' rate hikes

February 10, 2016 2:50 PM

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Wall St. rises as Yellen hints at 'gradual' rate hikes

Wall Street was higher on Wednesday, led by financial stocks, after Federal Reserve Chair Janet Yellen said conditions in the United States would allow the Fed to pursue "gradual" adjustments to monetary policy.

However, tightening financial conditions driven by falling stock prices, uncertainty over China and a global reassessment of credit risk could throw the U.S. economy off track from an otherwise solid course, Yellen said in a prepared testimony to Congress.

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