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Economy steady enough for more hikes, bond wind down, says Janet Yellen

According to Yellen's testimony economy is currently on an even keel, near or beyond full employment

Reuters  |  Washington 

The United States is healthy enough to absorb further gradual rate increases and the slow wind down of the massive bond portfolio accumulated by the Federal Reserve during the financial crisis, Fed Chair Janet Yellen said in prepared testimony to be delivered to Congress Wednesday morning. In what may be one of her last appearances on Capitol Hill, Yellen depicted an economy that, while growing slowly, continued to add jobs, benefited from steady household consumption and a recent jump in business investment, and was now being supported as well by stronger economic conditions ...

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First Published: Wed, July 12 2017. 18:38 IST