Economics
Yellen Says Forces Holding Down Rates May Be Long Lasting
- Fed chief discusses the ‘new normal’ that’s holding rates down
- U.S. central bank scales back pace of projected rate rises
Fed Scales Back Rate Projections
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Federal Reserve Chair Janet Yellen seems to be coming around to what her one-time rival, Lawrence Summers, has been arguing for a while: Some of the forces holding down interest rates may be long-lasting and secular.