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Yellen takes case for Fed's easy money policies to the public

By Jonathan Spicer CHICAGO (Reuters) - Federal Reserve Chair Janet Yellen on Monday took a page from a politician's playbook to defend the U.S. central bank's easy-money policies, citing the struggles of three Americans in a speech and touring a college workshop to shake hands with students and teachers.

Yellen signals that job market will need Fed's continued low-rate policies 'for some time'

WASHINGTON - Federal Reserve Chair Janet Yellen made clear Monday that she thinks the still-subpar U.S. job market will continue to need the help of low interest rates "for some time." Yellen's remarks signalled that even after the Fed phases out its monthly bond purchases later this year, it has no plans to raise a key short-term rate anytime soon. The bond purchases have been intended to keep long-term loan rates low.

Yellen: Slack US labor market still needs Fed support

Federal Reserve chief Janet Yellen argued Monday that the US labor market remains slack and that Fed policy needs to stay focused on generating jobs. In the clearest delineation of her priorities since taking the helm of the central bank in February, Yellen said the steady fall in the official unemployment rate to 6.7 percent masks deep weaknesses in the jobs market. In a speech in Chicago, she pointed in particular to the high level of people unemployed for a long term, despite the rebound from the Great Recession.

Yellen signals that job market will need Fed's continued low-rate policies 'for some time'

WASHINGTON - Federal Reserve Chair Janet Yellen made clear Monday that she thinks the still-subpar U.S. job market will continue to need the help of low interest rates "for some time." Yellen's remarks signalled that even after the Fed phases out its monthly bond purchases later this year, it has no plans to raise a key short-term rate anytime soon. The bond purchases have been intended to keep long-term loan rates low.

Yellen: US economy still needs Fed's support

Federal Reserve Chair Janet Yellen said Monday that the US economy still needs the Fed's extraordinary support measures, noting that the falling jobless rate masks weaknesses in the jobs market. Yellen said the economy remains "still considerably short" of the Fed's goals of maximum sustainable employment and stable inflation. pmh/jm

Fed's George wants end to zero rates, does not say when

By Carey Gillam KANSAS CITY, Missouri (Reuters) - A top Federal Reserve official who has often warned of the risks of keeping U.S. interest rates too low for too long said on Friday she wants to see how winding down the Fed's massive bond-buying stimulus goes before setting out any path for rate hikes.

Fed's Evans sees no rate rise before mid-2015

By Saikat Chatterjee and Michael Flaherty HONG KONG (Reuters) - The U.S. Federal Reserve will need to keep rates at rock bottom until late 2015 and then increase them only moderately over the next year because it would otherwise risk derailing a building economic recovery, a top Fed official said on Friday. "I personally doubt that the funds rate is going to start to increase before the middle of 2015," Chicago Federal Reserve Bank President Charles Evans told the Credit Suisse investment conference in Hong Kong.

Fed's Evans sees no rate hike until 'well into' 2015

By Michael Flaherty HONG KONG (Reuters) - The U.S. Federal Reserve will need to keep rates at rock bottom until late 2015, a top Fed official said on Friday. Raising rates earlier, whether to head off the risk of financial instability or unacceptably high inflation, could dangerously depress already low inflation and derail a recovery that is finally gaining steam, Chicago Federal Reserve Bank President Charles Evans said in remarks prepared for delivery in Hong Kong.

Average US rate on 30-year mortgage rises to 4.40 pct; 15-year loan up to 3.42 pct.

WASHINGTON - Average U.S. rates on fixed mortgages rose this week in the wake of comments by Federal Reserve Chairman Janet Yellen suggesting that the Fed could start raising short-term interest rates by mid-2015. Mortgage buyer Freddie Mac said Thursday the average rate for the 30-year loan increased to 4.40 per cent from 4.32 per cent last week. The average for the 15-year mortgage rose to 3.42 per cent from 3.32 per cent. A key home-price index showed Tuesday a robust 13.2 per cent increase in January compared with 12 months earlier. But the Standard

RBS to resubmit U.S. capital plans after Fed objections

LONDON (Reuters) - Royal Bank of Scotland <RBS.L> said it would resubmit the capital plans for its U.S. business Citizens after it was one of three foreign banks who had plans rejected by the U.S. Federal Reserve. The Fed blocked the capital plans of five banks on Wednesday, including the U.S. arms of RBS, HSBC <HSBA.L> and Santander <SAN.MC>, which it said was due to weaknesses in their capital planning processes.
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