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Yellen says Fed's 'extraordinary commitment' still needed
Yellen says Fed's 'extraordinary commitment' still needed

WASHINGTON -- Federal Reserve Chairwoman Janet Yellen, saying the job market is far from normal, made clear Monday that the central bank remains committed to providing extraordinary support for the economy for some time to come. Yellen’s remarks in Chicago were meant to reassure investors and others after statements earlier this month that indicated the Fed might start raising short-term interest rates as soon as early next year – sooner than many had been expecting. “She is backtracking some from her hawkish-sounding remarks from the press conference a couple weeks ago,” said Jack Ablin, chief investment officer of BMO Private Bank in Chicago. “This...

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