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Inflation and Deflation
Fed is torn over the timing for boosting interest rates
Fed is torn over the timing for boosting interest rates

As top central bankers gather this weekend for their annual powwow in Jackson Hole, Wyo., their main focus this year will be on the labor market — a topic at the heart of the Federal Reserve's increasingly intense debate on when to start raising interest rates. Fed Chairwoman Janet L. Yellen, who will be speaking Friday at the conference, has indicated for months that things aren't as strong as the rapid drop in the jobless rate might suggest. The unemployment figure has fallen to 6.2% in July from 7.3% a year earlier, but Yellen sees a lot of labor slack in the economy, which as she has put it, means there are "significantly more people willing and capable of...

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