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The Boston Globe

Business

Fed’s Janet Yellen hints rates will stay low

WASHINGTON — Federal Reserve vice chairwoman Janet Yellen says the central bank may keep its key short-term interest rate at a record low even after unemployment falls close to a more normal level.

The Fed has said it would hold its benchmark rate near zero as long as unemployment is above 6.5 percent and long-run inflation forecasts are below 2.5 percent. The current jobless rate is 7.9 percent.

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