The following are highlights of Federal Reserve Chair Janet Yellen's question-and-answer session on Thursday before the U.S. Senate Banking Committee, where she delivered the central bank's semi-annual monetary policy report to Congress in a second day of testimony. In light of the experience of European countries and others that have gone to negative rates, we are taking a look at them again, because we would want to be prepared in the event that we needed to add accommodation.
WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen said on Thursday that it is still uncertain when energy prices and the dollar will stabilize. "It's hard to predict exactly when that will be and there can be and have been surprises," Yellen told a committee of lawmakers in Congress. Low oil prices and the strong dollar have both put downward pressure on inflation, which remains well below the U.S. central bank's two-percent target rate. (Reporting by Lindsay Dunsmuir)
BRASILIA, Brazil (AP) — Brazil has signed an agreement with the University of Texas Medical Branch to develop a vaccine against the Zika virus, adding the goal is for the vaccine to be ready for clinical testing within 12 months.