Fed's Yellen says Puerto Rico faces economic crisis, matter for Congress

September 28, 2016 11:12 AM EDT

Federal Reserve Chairman Janet Yellen prepares to deliver the semi-annual testimony on the "Federal Reserve's Supervision and Regulation of the Financial System" before the House Financial Services Committee in Washington, U.S., September 28, 2016. R

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen on Wednesday said Puerto Rico faces a fiscal crisis but that a solution should come from the White House or Congress.

"This is really something that I'm not an expert on," she told a meeting of the House Financial Services Committee. "What the appropriate programs are for Puerto Rico to deal with its longstanding problems - I think that's squarely a matter for Congress and the administration to consider."

(Reporting By Patrick Rucker; Editing by Andrea Ricci)

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories


Add Your Comment