Wednesday, March 25, 2009

Fed's Yellen

Fed's Yellen says return of growth by yr-end is not assured, though recovery could still happen over next few quarters. A broad policy response is needed to end recession, she says. Yellen points to signs Fed programs are working and says worries about inflation surge are misplaced; deflation risks outweigh. Fed though is still committed to controlling inflation, Yellen says. Jobless rate likely to peak in 2010, she says, adding that housing starts are a tentative ray of hope.

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