SF Fed's Yellen on prospects for the U.S. economy

In a speech on 'Prospects for the U.S. economy' given on 2 March, Janet Yellen of the San Francisco Fed said the US economy is on a path toward healthy economic growth and stable inflation but interest rates remain accommodative.

Yellen said the neutral rate for fed funds -- the rate consistent with full employment over the medium term -- was highly uncertain.

"Judged from the perspective of a neutral policy stance, monetary policy at present is accommodative," she said.

Yellen said there was a

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