US economy faces ‘considerable uncertainty’

WASHINGTON, D.C.: Federal Reserve Chair Janet Yellen warned on Tuesday (Wednesday in Manila) that the US economy faces “considerable uncertainty” from slower domestic activity and from a possible British vote to break with the European Union.

Pointing to dragging hiring and business investment recently, and to the risk that a pro-Brexit vote will send shock waves through global markets, Yellen signaled that the Fed has become less optimistic about US growth over the short term and will proceed with great caution on plans to raise interest rates.