QE2 will create jobs, Yellen tells critics

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The Federal Reserve's second round of quantitative easing will help create jobs, Janet Yellen, the vice-chair of the central bank's board of governors, said on Saturday.

Yellen said unemployment, which stood at 9.4% in December, was mostly the result of weak labour demand, which in turn was a reflection of weak demand overall. Given this, there were several direct channels through which the central bank's second round of asset purchases can help, "including a reduced cost of credit to consumers

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