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New Fed Chair Yellen expected to stick to taper path

Janet Yellen, Chair of the Federal Reserve Board, testifies during a Senate Banking, Housing and Urban Affairs Committee hearing on Capitol Hill, on February 27, 2014New Federal Reserve chief Janet Yellen is expected to stick to the game plan when she chairs her first monetary policy meeting this week, further cutting back economic stimulus. But, six weeks after inheriting Ben Bernanke’s mantle, she is also under the gun to make a pivot in the way the Fed has been signaling its intentions. Handled well, that delicate shift in how the Fed foreshadows an eventual rate hike could assuage markets. But communicated badly, it could result in volatile movements and leave the new Fed chief on the back foot.

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