"There will be some slowdown in U.S. economic growth next year, partly because fiscal policy will provide a little bit less impetus than this year and higher interest rates are beginning to impact demand", Janet Yellen, former chair of the Board of Governors of the U.S. Federal Reserve System (the Fed) said at the 16th Caijing Annual Conference held in Beijing on Tuesday.

Yellen told the conference via video chat that the U.S. economy is performing exceptionally well, with the GDP growth rate running around 3 percent and the unemployment rate falling to a nearly 50-year low.

However, the current pace partly reflects the highly stimulatory fiscal policy that's now in place, Yellen said, noting that the stimulus may be phased out and monetary policy will begin to bite in 2020 or 2021.

"Over the next year, I anticipate that the Fed will boost rates three or four additional times to stabilize the unemployment rate," Yellen said.

She said that the U.S. growth may slow down to 2.5 percent next year and potentially reach 2 percent by 2020.

With the theme "Forecasts and Strategies", the conference aims to provide a platform for in-depth discussions on the economic, political, social and technological trends in 2019.

The one-and-a-half-day event was organized by Caijing Magazine, a weekly business magazine based in Beijing.

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