Yellen Says Asset-Buying Adds 3 Million Private Jobs
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The Federal Reserve’s two rounds of asset purchases totaling $2.3 trillion will have helped boost private payrolls by about 3 million jobs through 2012, said Fed Vice Chairman Janet Yellen.
Policy makers’ November decision to start a second round of purchases of $600 billion in Treasuries “is intended to support economic recovery from an exceptionally deep recession,” the 64-year-old central banker said in a speech today in Denver. “I believe it will be effective in fostering maximum employment and price stability.”