All eyes were on Fed chair Janet Yellen’s testimony before Congress Wednesday to see if current financial conditions will delay the central bank’s tightening cycle. Investment guru and publisher of popular newsletter Grant’s Interest Rate Observer Jim Grant, says this may be the case as tough times lie ahead for the Federal Reserve. During her testimony, Yellen told the House of Representatives’ Financial Services Committee that current global economic troubles and the recent selloff in equities could affect the U.S. economy, raising the prospects of a delay in rate hikes this year.
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