Yellen Warns of Global Weakness Pressuring U S Growth
Federal Reserve Chair Janet Yellen told Congress that global weakness and volatile markets could slow U S growth and delay further rate hikes while noting negative rates as a studied option. She cited China’s slowdown and a strong dollar as risks, but affirmed a gradual path for rate increases if the economy performs.
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Major Takata recall widens as VW Audi and BMW push 850000 US cars
Volkswagen, Audi and BMW recall 850,000 US vehicles from 2006 to 2014 model years for Takata air bag inflators that may rupture and eject shrapnel. The round brings total recalls to over 5.1 million in the latest Takata wave with other brands including Daimler Honda Ford and Mazda also affected. Authorities cite deadly ruptures and urge owners to await replacement notices while noting no confirmed ruptures from these specific makers.
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