SF Fed's Yellen says low rates appropriate

yellen-federal-reserve

Janet Yellen, the president of the San Francisco Federal Reserve, on Thursday deemed the record-low federal funds rate appropriate.

"We have pushed the federal funds rate down to zero for all practical purposes. Such an accommodative policy is appropriate because the economy is operating well below its potential, inflation is subdued, and such conditions are likely to continue for a while," Yellen, regarded as the Federal Open Market Committee's arch dove, said.

Yellen also noted that the Fed

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