Yellen: Fed Policy Is Last Resort Against Bubbles

Yellen: Fed Policy Is Last Resort Against Bubbles Play

Nov. 14 (Bloomberg) -- Janet Yellen, nominated to be the next chairman of the Federal Reserve, says the central bank should first try to stop asset bubbles through regulatory policy and only raise interest rates as a last resort. The Fed vice chairman spoke in response to a question during testimony today before the Senate Banking Committee in Washington. (This is an excerpt from the hearing. Source: Bloomberg)

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