Yellen says she's not offering advice to British citizens about Brexit

WASHINGTON (MarketWatch) - Federal Reserve Chairwoman Janet Yellen on Tuesday said she is not picking sides in the debate over whether Britain should remain in the European Union. "I am not attempting to take a stand," Yellen said in testimony to the Senate Banking Committee. Earlier, Yellen said a victory by the "leave camp" could have economic consequences for the U.S. The Brexit referendum "is a unique event that has no close parallel. It is hard to know what the consequences could be," Yellen said. The Fed is watching the situation carefully and "is prepared to act in light of that assessment," the Fed chairwoman said.

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