It’s not every day that the chair of the Federal Reserve takes a public opinion on a specific piece of Wall Street research. But Thursday, Janet Yellen found herself compelled to do just that.
In testimony before Congress’ Joint Economic Committee, Yellen was asked by Rep. Pat Tiberi about a piece of research released by Citigroup’s rates strategy team Monday.
Specifically, Tiberi, an Ohio Republican, wanted to know what Yellen made of Citi’s conclusion that there is a 65 percent chance of a U.S. recession in 2016.
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