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Federal Reserve Chair Stresses Inflation, Employment in First Policy Speech

Federal Reserve Chair Janet Yellen says inflation is expected to rise slowly from current levels to the U.S. central bank's two percent target rate. In her first major policy speech, Yellen told the Economic Club of New York the low rate of inflation appears due to "temporary" influences such as the deceleration in consumer energy prices. But she said longer-run inflation expectations have remained steady. She said the Fed is not likely to raise interest rates until its...

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