8 years ago
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Yellen says economy on track, defends Fed 'transparency'
By Howard Schneider and Michael Flaherty
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This is the real story here. Employment has not recovered. The workforce participation rate is absurdly low. Yet the Fed is going to pump the brakes on the economy out a misguided fear of inflation, and the fear that, god forbid, employment will rise and workers might actually have some bargaining power to demand higher wages.