Yellen: Global market turmoil impact still unclear

Federal Reserve Chair Janet Yellen said Thursday that it is too early to fully understand the impact on US economic growth of the turmoil in global markets. Asked in a Senate hearing if the United States could be facing recession amid the global downturn, Yellen downplayed the chance of a contraction in the economy. Yellen reiterated her statement from a House of Representatives hearing on Wednesday that US economic growth faces rising risk from tighter financial conditions domestically and the