Fed's Stein clarifies unemployment ‘threshold' for rate change
Federal Reserve Bank governor Jeremy Stein today outlined his understanding of the further explanation Ben Bernanke gave last week on the thinking of the Federal Open Market Committee (FOMC), saying that at this stage in the programme of monetary easing, it now makes sense to provide clarity over at what point the FOMC will start considering slowing asset purchases and, later, raising rates.
Stein said Fed chairman Bernanke's comments showed "a greater willingness to spell out what the committee
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