Yellen faces conundrum

In a predicament: Yellen raised interest rates by 25 basis points as expected but falling credit spreads, the S&P 500’s bull run and the fact the dollar has failed to maintain its post-election ascent this year all constitute stimulus – defying post-election fears that a tightening of financial conditions may offset president Donald Trump’s bid to boost growth. – Reuters

Financial conditions defy interest rates hike

LONDON: Financial markets are telling Janet Yellen there’s more work to be done – or else.