Fed Confirms Yellen not Participating in ECB Conference

Federal Reserve Chair Janet Yellen will not participate in a central bank conference in Portugal organized by the European Central Bank, where she had been scheduled for a joint appearance with the Bank of England and ECB chiefs.

A Fed official confirmed Yellen would be returning to the United States following the weekend meeting of the Bank for International Settlements. The decision follows last week's vote by the United Kingdom to leave the European Union, an event that has cast uncertainty around the economic outlook. (Reporting by Howard Schneider; Editing by Chizu Nomiyama)