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Yellen: Many American Families Are 'Extraordinarily Vulnerable'

The head of the U.S. central bank says a "large share" of American families are "extraordinarily vulnerable" because they lack the savings or other assets needed to weather financial problems. U.S. Federal Reserve Chair Janet Yellen spoke Thursday in Washington, and said in many cases a sudden illness or other unexpected expense of $400 could cause serious problems. She said research by Fed experts shows families in the lowest two-fifths of the income range have...

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