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Wednesday, July 1, 2009
Interest rate could linger near zero for years, Fed's Yellen says
Janet Yellen, president of the Federal Reserve Bank of San Francisco, went further than other policymakers in assuring that the Fed is not likely to push its interest rate up in the near future. Speaking to reporters after a speech, she said it is "not outside the realm of possibility" that the central bank will let the interest rate remain close to zero for several years.
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