Price risks outweigh growth threat: SF's Yellen

Janet Yellen, the president of the San Francisco Federal Reserve, has said that the threat of inflation spiralling is now greater than the risk of a rise in unemployment.

"On balance, I still see inflation expectations as reasonably well anchored and I anticipate that consumer survey measures will come down once oil and food prices stop rising," Yellen said. "But the risks to inflation are likely not symmetric and they have definitely increased. We cannot and will not allow a wage-price spiral

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