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Yellen says economy must improve more before Fed raises interest rates
Yellen says economy must improve more before Fed raises interest rates

Warning of past "false dawns" in the economic recovery, Federal Reserve Chairwoman Janet L. Yellen said Tuesday that central bank policymakers need to be cautious about raising rock-bottom interest rates. Recent data indicate the economy has rebounded from a sharp slowdown in the first three months of the year, Yellen told senators. But the recovery “is not yet complete,” she warned. “We have in the past seen false dawns … and later events have proven those hopes to be unfortunately over-optimistic,” Yellen said at a Senate Banking Committee hearing. “We need to be careful to make sure the economy is on a solid trajectory before we...

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