Yellen Defends Seven Years of Low Interest Rates in Letter to Nader
- Says savers would've been worse off without easy Fed policy
- Fed will go gradually after first rate rise, Yellen says
Will a Dec. Fed Rate Hike Be Positive for Markets?
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Federal Reserve Chair Janet Yellen, responding to a letter calling for higher interest rates on behalf of savers, said Americans would have been worse off had the central bank not kept rates near zero since 2008, and repeated that she expects to tighten policy “gradually” after liftoff.