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Fed’s Yellen Refuses To Be Pinned Down on Policy Timing

Nothing mechanical about ‘considerable time.’ The phrase included again in the post-meeting statement from the FOMC generated perhaps the most questions in the post-meeting press conference, and Yellen dealt with them all mostly in the same way. There’s nothing “mechanical” about the term considerable time, Yellen said. “It is highly conditional and it is linked to the committee’s assessment of the economy,” she noted.



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