Federal Reserve Chair Janet Yellen gave her semiannual testimony to the House financial services committee on Capitol Hill yesterday. She said modest GDP growth combined with gains in the job market are two of the reasons why the Fed will continue with it's plans to sell off over $4 trillion in debt and mortgage-backed securities on its balance sheet. As you may recall, this debt was built up during the financial crisis.
But then she shared her concerns about economic uncertainty due to the Trump administration, given it has not yet succeeded in cutting taxes, slashing regulations, renegotiating trade deals, or rebuilding American infrastructure.
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