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Yellen resists pressure to tighten monetary policy more quickly
Yellen resists pressure to tighten monetary policy more quickly

Resisting pressure to tighten monetary policy more quickly, Federal Reserve Chairwoman Janet L. Yellen said there was no "simple recipe" for central bank policymakers in deciding when the labor market had improved enough to handle a rise in interest rates. Economic conditions are improving but the Great Recession was so damaging that it has made assessing the job situation "especially challenging," Yellen said in an eagerly anticipated speech Friday at an annual Fed conference in Jackson Hole, Wyo. "In the five years since the end of the Great Recession, the economy has made considerable progress in recovering from the largest and most sustained loss of...

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