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Yellen: Record low rates needed to rev up recovery [AP]

Wednesday, March 24, 2010 - 7:44 AM
From AP via Yahoo Finance
Janet Yellen, head of the Federal Reserve Bank of San Francisco and President Barack Obama's top pick to be vice chair of the central bank, said the sluggish recovery she anticipates means unemployment will stay high for years. [...] Given fragile economic conditions, Yellen said the Fed was right last week to keep a pledge to hold rates at record lows for an "extended period" -- thought to mean six more months.
Article did have one short mention of Thomas Hoenig, the one committee member who has disagreed with the pledge to hold rates at record lows for an extended period.
1
Ken TuminKen Tumin5,442 posts since
Nov 29, 2009
Rep Points: 123,699
1. Wednesday, March 24, 2010 - 10:42 AM
Yellen "said the sluggish recovery she anticipates means unemployment will stay high for years."

I interpret that to mean she advocates record low rates for years to come.
1
AnonymousAnonymous2,281 posts since
May 9, 2010
Rep Points: 3,786
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