Yellen Says U.S. Job Market Still Hampered, Calls For ‘pragmatic’ Policy
Fed Chair Janet Yellen said on Friday in a defense of her policy approach, U.S. labor markets remain hampered by the effects of the Great Recession and the Federal Reserve should move cautiously in determining when interest rates should rise. In a speech at a central banking conference here, Yellen laid out in detail why she feels the unemployment rate alone is inadequate to evaluate the strength of the U.S. job market.
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