Fed chief signals slowdown in rate hikes

WASHINGTON, D.C: US Federal Reserve chief Janet Yellen said Wednesday that even as the US economy grows stronger and employment expands, she foresees only “gradual” interest rate increases in the next few years.

Facing sometimes tough questions from legislators, Yellen presented the Fed’s required semi-annual report to Congress – possibly for the last time if President Donald Trump decides not to reappoint her for a second term at the helm of the US central bank.