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Fed's Yellen: Policy To Stay Easy After Threshold Crossed

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November 19, 2013 AT 8:58 AM
U.S. monetary policy will probably remain very easy for a long while after either the Federal Reserve's interest rate hike threshold on unemployment, or inflation, has been crossed, Fed Vice Chair Janet Yellen said in a letter to a U.S. lawmaker. Yellen, responding to a written question for the record from Massachusetts Senator Elizabeth Warren following her hearing last week before the Senate Banking Committee to become the next Fed chair, also said the jobless threshold was not a trigger.