Wall Street up as Yellen eases concerns about economy

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.