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Yellen navigates tricky path on interest rates
AZ Central: WASHINGTON (AP) -- Federal Reserve Chair Janet Yellen navigated the tricky job of managing expectations on Tuesday in her first public comments on interest rate policy in more than two months.
She wanted the world to know the Fed isn't ready yet to raise rates from record lows. The job market is still healing, and inflation is too low, she said. At the same time, Yellen signaled that the Fed is moving closer to a rate hike by sketching the steps the central bank would take when it deemed the time was right.
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