Yellen: Fed’s ‘Extraordinary’ Policy to Be Around for the Long Haul

By Javier E. David

The Federal Reserve will continue to bolster the U.S. economy, Fed Chair Janet Yellen said on Monday, given the halting pace of the recovery and a still moribund job market.

In some ways, labor conditions are tougher now than in any other recession, Yellen said at a speech in Chicago. She added the Fed’s “extraordinary commitment,” in the form of massive bond-buying and ultra-low interest rates, is “still needed, and will be for some time.”

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