Thursday, March 25, 2010
As the economy remains in a slump, a Federal Reserve official had suggested that keeping interest rates at record-low levels is important. The official is said to be President Obama's favored candidate for vice chair of the Fed.
Fed remains committed to doing what's necessary to hold down interest rates, says Janet Yellen, head of the Federal Reserve Bank of San Francisco in a recent speech. She added that any significant run-up in mortgage rates would create risks for a housing recovery.
Fed remains committed to doing what's necessary to hold down interest rates, says Janet Yellen, head of the Federal Reserve Bank of San Francisco in a recent speech. She added that any significant run-up in mortgage rates would create risks for a housing recovery.



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