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Beating the Bad Economy

Fed's Yellen Sees Jobless Rate Normalizing in 2 Years

Federal Reserve Chair Janet Yellen on Wednesday said she and her central bank colleagues believe the U.S. economy will reach maximum employment and achieve price stability -- referred to as the Fed's dual mandate -- by the end of 2016.Under that scenario, the unemployment rate would range from 5.2% to 5.6% and inflation would be in a range of 1.7% to 2%, on an annual basis."If this forecast was to become reality, the economy would be approaching what my colleagues and I view as maximum employment and price stability for the first time in nearly a decade. I find this baseline outlook quite plausible," Yellen said in a speech at the Economic Club of New York.Elsewhere in the speech, the newly-minted head of the mighty central bank gave no indication that interest rates would be raised at any point prior to when the economy achieves that dual mandate.Instead, she reiterated the Fed's position that interest rates will remain at their current historically low levels and that "accommodative"...

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  1. Excerpt on policy from March 18-19 FOMC minutes

    The following is an excerpt covering the Federal Open Market Committee's discussion of monetary policy taken from the minutes of the FOMC's March 18-19 meeting, whic...

  2. Nardelli on GM

    XLR-8 LLC founder Robert Nardelli weighs in on GM’s recall crisis and the auto industry.

  3. Deep Dish: Domino's CEO Talks Turnaround Success

    Not every CEO is willing to admit the product he or she is responsible for just flat out isn't good.But Patrick Doyle, president and chief executive of Domino's Pizz...

  4. Temporary hiring booming

    LaSalle Network CEO Tom Gimbel, Barron’s senior editor Jack Hough and Hilary Kramer of A&G Capital discuss the temporary hiring economy and the gender gap.

  5. Avoiding Retirement Saving Pitfalls

    Workers' confidence in their ability to fund retirement is rebounding, according to a recent survey by the Employee Benefit Research Institute. A positive uptick in ...

  6. IMF Trims Global Growth Outlook Amid EM Risks

    The International Monetary Fund on Tuesday trimmed its forecast for global growth for the year, citing continued weakness in the economies of emerging markets and th...

  7. Small Business Confidence Index Ticks up in March

    After a down month in February, small business owner confidence picked up in March, according to the latest index from the National Federation of Independent Business.  

  8. Former Florida Gov. Jeb Bush calls illegal immigration ‘an act of love’

    Boston Properties Chairman Mort Zuckerman on illegal immigration and ObamaCare.

  9. Don't Make These Mistakes With Alternative Loans

    Here are five pitfalls to look out for when it comes to alternative financing.

  10. Jeb Bush: “Yes, They Broke The Law But... It's An Act Of Love”

    The former Republican governor of Florida Jeb Bush talks about immigration.

  11. European shares fall, end three-week rally

    ETX Capital’s Joe Rundle with the latest on the European markets.

  12. Where are the jobs and why aren't businesses hiring?

    IMF Managing Director Christine Lagarde weighs in

  1. 3 Priorities for the New SBA Administrator

    As Small Business Administration (SBA) Chief Maria Contreras-Sweet settles into her new role, a number of challenges await her. Here are some suggested priorities.

  2. Answers to 10 Most Popular Auto Questions

    Just because most Americans own a car doesn't mean it's always easy. Here are the most common questions posed to Driving for Dollars, and their answers.Should I trad...

  3. Report: GM's Opel Unit May Break Even Before '16

    General Motors Co's (NYSE:GM) loss-making European unit, Opel, may break even before its 2016 deadline, the Wall Street Journal reported, following an interview with...

  4. World Trade Picture Improves, '14 Below Trend

    The World Trade Organization slightly raised its 2014 forecast for growth in global goods trade to 4.7 percent on Monday, saying it did not expect a return to the hi...

  5. Get Ready for a Rebound in Housing Market

    The housing news in the recent winter months has been weak across the board, and has left one glaring question in its wake: When is the data going to get better?"The...

  6. Jobless Claims Fall To Nearly Seven-year Low

    The number of people who applied for U.S. unemployment benefits last week fell to a nearly seven-year low of 300,000, a sign the labor market might be experiencing a...

  7. U.S. Crude Oil Up On Spike In Gas Demand

    U.S. crude rose more than $1 on Wednesday, driven by a technical rally and unexpectedly high gasoline demand, while tensions between Russia and the West underpinned ...

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