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No new hints on the Fed's direction in Jackson Hole

August 25, 2014

U.S. equity indices remained calm on Friday as investors weighed the prospects for U.S. interest rates and further economic stimulus in Europe. The S&P’s 500 Index closed 0.2% lower. Federal Reserve Chair Janet Yellen said during a meeting of central bankers in Jackson Hole that there was still a “significant” underuse of the U.S. workforce and the job market has yet to recover from the global financial crisis.

 However, Yellen acknowledge the need for flexibility, saying if progress “continues to be more rapid than anticipated,” a rate rise could come sooner than currently expected and further increases could be more rapid.

 

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