Fed's Yellen: rates may stay low for years


A voting member of the Federal Open Market Committee has said that the Fed's policy rate may stay at the zero bound for years to come.

At a speech to the Commonwealth Club on Tuesday, she described the current recession as "a hundred-year flood: a disaster of the highest order which has put us on continuous emergency footing." Predicting that the US would begin to slowly pull out of recession later this year she added she was " not optimistic that the economy will spring back to normal anytime s

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