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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

Video player cover image — Fed Scales Back Rate Projections

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June 15, 2016, 10:26 PM UTC

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.

QuickTake The Fed Lifts Off