Snow's remarks on interest rates clarified

Clarification of US Treasury Secretary John Snow's comments on interest rates has been given by a spokesman that he was talking about long-term market interest rates, not short-term official rates. Snow had been quoted as saying he would be "frustrated and concerned" if rates did not rise as the economy recovered.

Source: Financial Times

Financial markets swung sharply yesterday as the US administration scrambled to clarify remarks made by John Snow, Treasury secretary, that interest rates would

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