Yellen steers Fed with cautious hand, despite hints of inflation

By Jason Lange and Jonathan Spicer WASHINGTON (Reuters) - Federal Reserve policymakers urging caution over interest rate hikes have gained the upper hand in the central bank's internal debate, but the risk for the U.S. economy is that they are wrong to downplay a recent rise in inflation. In words that echo those of colleagues on the Fed's dovish wing, Fed Chair Janet Yellen told a news conference on Wednesday that "caution is appropriate" when it comes to raising interest rates. If Yellen is ri