Yellen: US officials received assurances that Chinese banks 'doing well'

<ul><li>Yellen says US economy may see some spillovers from China financial turmoil if it leas to slower growth in important trade partners</li><li>She does not think spillovers to US will be very large</li><li>US-China financial working group meetings focused on pressures in financial sector and banks stemming from local gov't debt problems and real estate</li><li>Group to meet shortly for larger discussions on China's macro situation</li><li>The jury is still out on a return to a low rates era</li></ul><p>This all sounds kinda ominous. </p>

This article was written by Adam Button at www.forexlive.com.