The Fed expects economic growth to pick up in the current quarter, which would allow it to pursue its plan of "gradual" adjustments to monetary policy, she said. Fears of a China-led global economic slowdown and oil's steep slide since the Fed raised rates in December have dampened the market's expectations for a hike in coming months. "What Yellen said has been taken positively," said Richard Sichel, chief investment officer of Philadelphia Trust Co in Philadelphia.
By Patricia Zengerle and Jonathan Landay WASHINGTON (Reuters) - The U.S. envoy to the coalition against Islamic State said on Wednesday that Russian airstrikes in Syria are boosting the militant group because of the toll they are taking on U.S.-backed opposition fighters. "What Russia's doing is directly enabling ISIL," the envoy, Brett McGurk, told a hearing of the House of Representatives Foreign Affairs Committee, using an acronym for Islamic State.