Fed Chairman Resists Raising Interest Rates

The Wall Street Journal reported last week that Federal Reserve Chairwoman Janet Yellen pushed back strongly against the idea that the central bank should consider raising interest rates to avoid fueling future financial crises.

In her most detailed and forceful comments on financial stability since assuming her role in February, Yellen said she favors relying first on regulation and supervision to make the financial system more resilient, but didn’t rule out applying the monetary brakes if those tools fail. S