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Yellen says Fed needs to avoid 'boom-bust'cycle in economy

November 22, 2017
Associated Press

WASHINGTON (AP) — Federal Reserve Chair Janet Yellen says the biggest challenge facing the central bank in coming years will be to craft an interest rate policy that avoids putting the economy through a "boom-bust" cycle.

She says that going forward, the Fed will be faced with a delicate balancing act: It will need to move rates up at a pace that allows the labor market to improve and inflation to move toward the Fed's target. This while not delaying rate hikes so long that the Fed is forced to push rates up so quickly that it threatens to throw the country into recession.

Yellen's comments at New York University echoed previous remarks on inflation, indicating that the Fed is still preparing to boost rates again in December, its third hike this year.



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