Yellen Says Fed Will Be Cautious on Interest Rates, Warns on Brexit

Federal Reserve Chair Janet Yellen declared the Fed will continue with its 'cautious approach' toward monetary policy. Yellen made the comment when testifying before the Senate Banking Committee in Washington D.C. Yellen said caution is warranted as U.S. hiring has slowed, and global risks remain. Regarding the Brexit vote, Yellen said there would be significant economic repercussions if the UK would leave the European Union. TheStreet's Rhonda Schaffler has details.