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Ben Bernanke
Fed chief stresses flexibility on timing of interest rate hike
Fed chief stresses flexibility on timing of interest rate hike

Federal Reserve Chairwoman Janet L. Yellen greased the wheels for an eventual interest rate hike, but she made clear that she was keeping her options open on the timing of any such move. Appearing for the first time before the new Republican-controlled Senate, Yellen laid out the path Tuesday for a change in monetary policy as she highlighted the "considerable progress" achieved in the labor market recovery — a precondition of a Fed rate increase. Yet Yellen also gave plenty of reasons for wanting flexibility. She said that "too many Americans remain unemployed or underemployed, wage growth is still sluggish, and inflation remains well below our longer-run...

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