SF Fed's Yellen on the U.S. economy in 2007

In the speech 'The U.S. economy in 2007' given on 21 February Janet Yellen of the Federal Reserve Bank of San Francisco said she still sees upside risks to inflation but that U.S. interest rates were "well positioned" to bring inflation down.

"At this stage, the predominant risks center on whether inflation will continue to move down gradually," she said in the speech to members of the Silicon Valley Leadership Group.

"I do want inflation to move down ... I believe policy may now be well

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