Yellen Says Doesn't Think it Will Be Necessary Soon to Cut Rates

February 10, 2016 4:48 PM

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The Federal Reserve's policymaking committee does not expect to cut interest rates anytime soon, Federal Reserve Chair Janet Yellen said on Wednesday.

"I do not expect that the FOMC is going to soon be in a situation where it is necessary to cut rates," Yellen told a committee of lawmakers in Congress, noting that the strength of the labor market gives her succor.

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