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Fed's Yellen says Puerto Rico faces economic crisis, matter for Congress

Published 09/28/2016, 11:13 AM
Updated 09/28/2016, 11:20 AM
© Reuters. Federal Reserve Chairman Yellen prepares to deliver the semi-annual testimony on the "Federal Reserve's Supervision and Regulation of the Financial System" before the House Financial Services Committee in Washington

WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen on Wednesday said Puerto Rico faces a fiscal crisis but that a solution should come from the White House or Congress.

© Reuters. Federal Reserve Chairman Yellen prepares to deliver the semi-annual testimony on the "Federal Reserve's Supervision and Regulation of the Financial System" before the House Financial Services Committee in Washington

"This is really something that I'm not an expert on," she told a meeting of the House Financial Services Committee. "What the appropriate programs are for Puerto Rico to deal with its longstanding problems - I think that's squarely a matter for Congress and the administration to consider."

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