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US inflation will soon rebound, but Fed 'very uncertain', says Janet Yellen

Yellen noted that undershooting the inflation target for too long can be quite dangerous

Reuters  |  New York 

Federal Reserve Chair Janet Yellen stuck by her prediction that U.S. inflation will soon rebound but offered on Tuesday an unusually strong caveat: she is "very uncertain" about this and is open to the possibility that prices could remain low for years to come. A day after announcing her retirement from the U.S. central bank, planned for early February, Yellen said the Fed is nonetheless reasonably close to its goals and should continue to gradually raise interest rates to keep both inflation and unemployment from drifting too low. Yellen, one of the most powerful ...

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First Published: Wed, November 22 2017. 07:54 IST