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The Boston Globe

Business

Fed’s Janet Yellen backs interest rate strategy

WASHINGTON — The number two official at the Federal Reserve said Monday that she does not see any risks at the moment from the Federal Reserve’s low-interest rate policies that would prompt her to urge that the policies be curtailed.

Janet Yellen, vice chair of the Fed, provided an aggressive defense of the central bank’s efforts to keep interest rates low, seeking to answer critics inside and outside of the Fed who have warned that the efforts could generate higher inflation or market instability.

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