China is spooking the almighty U.S. central bank -- and investors.
Federal Reserve chief Janet Yellen mentioned the word China six times and "global" (read: China) 10 times in her press conference Thursday. It's is a big change for the Fed, which barely talked about global worries before.
"Heightened concerns about growth in China and other emerging market economies have led to notable volatility in financial markets," Yellen said.
The fears were strong enough for the Fed to leave its benchmark interest rate at 0%, where it's been since the depths of the financial crisis in 2008. It wants more time to see how the global headwinds abroad play out at home.
Read/ watch more at http://money.cnn.com/2015/09/18/news/economy/china-yellen-global-economy-worry/
Federal Reserve chief Janet Yellen mentioned the word China six times and "global" (read: China) 10 times in her press conference Thursday. It's is a big change for the Fed, which barely talked about global worries before.
"Heightened concerns about growth in China and other emerging market economies have led to notable volatility in financial markets," Yellen said.
The fears were strong enough for the Fed to leave its benchmark interest rate at 0%, where it's been since the depths of the financial crisis in 2008. It wants more time to see how the global headwinds abroad play out at home.
Read/ watch more at http://money.cnn.com/2015/09/18/news/economy/china-yellen-global-economy-worry/
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