Fed’s Yellen guarded on recovery
The US economic recovery is expected to be tepid, but the worst of the recession is over and the economy could be expected to grow in the second half of the year, said Janet Yellen, the president of the San Francisco Federal Reserve. She based her assessment on the effects of inventory adjustment, improved financial conditions and the tax cuts and government spending mandated by Congress's fiscal stimulus package.
Yellen, regarded as one of the most dovish members of the Federal Open Market
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