Yellen: Fed’s Gradual Rate Hike Plan is Best

With monetary policy still modestly accommodative, the U.S. central bank should continue to raise interest rates slowly or risk harm to the recovery the Fed has sought to nurture, Federal Reserve Chair Janet Yellen said Thursday.  “I think that allowing the economy to run markedly and persistently ‘hot’ would be risky and unwise,” Yellen said at the Stanford Institute for Economic Policy Research.  While there are no signs as yet that the Fed is behind the curve or the...

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