Mirror, mirror …

11 February 2016 By Gina Chon Follow @GinaChon

American lawmakers like to pepper the Fed chair with nitpicky questions and sweeping advice. Monetary policy can modify economic cycles, but so can fiscal initiatives, which are conspicuously lacking. Investors who blame the Fed for trouble can also do more to help themselves.

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Federal Reserve Chair Janet Yellen provided her semiannual monetary report to Congress over two days, ending with the Senate on Feb. 11. Yellen told lawmakers that the global economic slowdown and market volatility posed risks to the United States.

She said the Fed would closely watch global developments and the central bank was not on a preset course. Still, she said she expected the Fed would continue to gradually raise interest rates.

In December, the Fed raised short-term interest rates for the first time in almost a decade. The central bank will meet in March to consider whether a further increase is needed.

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