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Janet Yellen says Brexit vote will have significant impact on US economy

Published 07/06/2016

Janet Yellen said a vote by the UK to leave the EU could have significant economic repercussions for the US (AP)
Janet Yellen said a vote by the UK to leave the EU could have significant economic repercussions for the US (AP)

A vote by Britain to leave the European Union may trigger "significant" repercussions in the US economy, the head of the Federal Reserve has warned.

Janet Yellen, who chairs the US central bank, ranked a Brexit vote on June 23 alongside Chinese instability and sluggish growth around the globe as important uncertainties facing the American economy.

In a speech on Monday she commented: "One development that could shift investor sentiment is the upcoming referendum in the United Kingdom.

"A UK vote to exit the European Union could have significant economic repercussions."

Ms Yellen made the comments as the chairman of Japanese conglomerate Hitachi warned jobs may be lost should Britain leave the EU.

Hiroaki Nakanishi said the "cold economic reality of Brexit" could lead to squeamish investors holding back until the terms of a new relationship with Europe were agreed, which would take "a long time".

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