“China’s slowdown will have the largest impact on its Asian neighbors, but there will be some spillovers to the United States,” Yellen said in post-speech comments to the media in Las Vegas, according to Bloomberg. “That said, I feel very good about US prospects overall. Let’s call that a risk.”
She maintained that the US labor market remains strong while inflation trends downward after the Federal Reserve’s 11 interest rate hikes.
Still, the Consumer Price Index rose 3.2% in July year over year, up from June’s 3.0% pace. Before the latest reading, the gauge has been easing at a steady clip for about 12 months.
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