Stocks Extend Losses After Yellen Says “Rates Will Have To Rise”

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Zero Hedge: Treasury Secretary Janet Yellen is speaking at The Atlantic’s “Future Economy Summit” this morning – a speech she pre-recorded yesterday – and has sparked some chaos with her comments.

“The rich ruleth over the poor, and the borrower is servant to the lender.” Proverbs 22:7 KJV

The highlight was this…

“It may be that interest rates will have to rise a little bit to make sure our economy doesn’t overheat”

And this didn’t help…

“We’ve gone for way too long letting long-term problems fester in our economy”

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