Yellen reaffirms that 2015 hike likely

In her semiannual testimony to Congress, Janet 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 labour market. Remarks from Yellen were mostly in line with the Fed’s policy statement last month but did highlight risks from foreign developments to US growth. Yellen cited the “difficult” situation in Greece and the challenges facing China of high debt, weak property markets and volatile financial conditions as potential growth disruptors. (VIEW LINK)