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Fed's Yellen: 'pockets' of higher risk taking in US

Federal Reserve Chair Janet Yellen speaks during the inaugural Michel Camdessus Central Banking Lecture at the International Monetary Fund in Washington, DC, July 2, 2014Federal Reserve Chair Janet Yellen said Wednesday that she sees some rise in potentially dangerous risk taking in the US financial system, but none requiring a change in monetary policy. In a speech on how central banks should deal with excessively risky behavior in an economy, especially one underpinned as now by very low interest rates, Yellen said the United States is in much better shape in the wake of the 2008 crisis. “Taking all of these factors into consideration, I do not presently see a need for monetary policy to deviate from a primary focus on attaining price stability and maximum employment, in order to address financial stability concerns.”

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