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Yellen Riding U.S. Growth Veers From Draghi as EU Stalls

The world’s two most powerful central bankers are nearing a transatlantic gap in monetary policy as the Federal Reserve debates raising interest rates while the European Central Bank signals more stimulus.

The potential for divergence was on display yesterday as Fed Chair Janet Yellen and ECB President Mario Draghi outlined differing economic outlooks to international counterparts in Jackson Hole, Wyoming. The U.S. unemployment rate stands at 6.2 percent compared with 11.5 percent in the euro area.