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June 22, 2016

Yellen says uncertainties justify cautious approach

  • The Fed chair said she expects the U.S. economy to grow and described the possibility of a recession this year as “quite low."
    • By MARTIN CRUTSINGER
    AP Economics Writer

    WASHINGTON — Federal Reserve Chair Janet Yellen said Tuesday that the U.S. economy faces a number of uncertainties that require the Fed to proceed cautiously in raising interest rates.

    In delivering the Fed's twice-a-year economic report to Congress, Yellen cited a slowdown in job growth in April and May, and said the Fed will be watching carefully to see whether the weaker momentum is temporary or a sign of a bigger problem.


     
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