The Traderszone Network

Published in TZ Latest News 15 July, 2015 by The TZ Newswire Staff

Yellen stands by Fed’s transparency as lawmakers turn up heat

Federal Reserve Chair Janet Yellen on Wednesday resisted calls for more congressional oversight, as members of a House of Representatives panel criticized the central bank’s policies and pressed it to be more accountable. In her semiannual testimony to Congress, Yellen repeated her view that the Fed will likely hike interest rates later this year if the U.S. economy expands as expected, and cited improvement in the labor market. While some lawmakers aggressively questioned Yellen, it was a gentler session than the grilling she received before the same panel in February.