Lawmakers have suspended the debt ceiling -- a limit on government borrowing to pay for bills already incurred -- until January 1 next year.

Earlier this week, Yellen said softness in the oil market presents an opportunity for more sanctions

"It reflects confidence on the part of the Fed that inflation has come way down and is on the path back to the two percent target, and that the risks with respect to inflation have really meaningfully diminished," Yellen told an event in Washington

Her ‘From Washington with Love’ message to China is intriguing.

Stocks, emerging market currencies and oil all rallied in Asia after Federal Reserve chief Janet Yellen lowered her expectations for US interest rate hikes this year.

Singer Taylor Swift has made it on the Forbes Power Women List for first time this year, being placed at number 65 for her career achievements and charity work.