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Janet Yellen, Chair of the Federal Reserve enters the opening reception of the Jackson Hole Economic Policy Symposium in Jackson HoleBy Howard Schneider JACKSON HOLE Wyo. (Reuters) - The Federal Reserve should move cautiously in deciding when to raise interest rates given the U.S. In a speech at the Fed's annual central bank conference, Yellen laid out in detail why she feels the unemployment rate alone is inadequate to evaluate the strength of the jobs market and why the central bank needs to step gingerly. Her remarks were followed by a speech by the head of the European Central Bank, Mario Draghi, who said the ECB was ready to use all the tools at its disposal to lift euro zone inflation if it continued to drop. Together, the comments from Yellen and Draghi underscored how both central banks were wrestling with the complexities of labor markets still-wracked by the 2007-2009 financial crisis.


2014-08-22 16:08:25 -0500
CLEVELAND (AP) — Josh Gordon smiled as he walked off the field on an insufferably muggy day. Nothing, it seemed, was bothering him.
2014-08-22 16:07:58 -0500