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Fed's Yellen says rate and portfolio plans on track, cautions on inflation

Reuters  |  WASHINGTON 

By Howard SchneiderWASHINGTON (Reuters) - The U.S. economy is healthy enough for the Fed to raise rates and begin winding down its massive bond portfolio, though low inflation and a low neutral rate may leave the central bank with diminished leeway, Fed Chair Janet Yellen said on Wednesday.In what may be one of her last appearances before Congress, 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 by stronger economic conditions abroad.The Fed ...

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First Published: Thu, July 13 2017. 00:07 IST
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