The Residential Real Estate Post-Crash Index-Moderated Message Board

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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated

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To: TH who wrote (85362)	2/11/2013 2:15:16 PM
From: Smiling Bob	Read Replies (2) of 119361

It's a fact!! ----------------- Fed's Yellen: Low prices allow unemployment focus WASHINGTON (MarketWatch) -- The fact that inflation is low allows the Federal Reserve to push forward on its efforts to lower the unemployment rate, said Janet Yellen, the vice-chairman of the central bank, on Monday. In a speech to a conference sponsored by the AFL-CIO labor union, Yellen said the past five years have been "the toughest that many of today's workers have ever experienced." While the job market is improving, the progress has been "too slow," she said. Long-term unemployment has had a devastating impact on workers' mental health and families, Yellen noted. The Fed has said it will keep short-term interest rates close to zero as long as the unemployment rate remains above 6.5%. Yellen stressed that the 6.5% rate was not a trigger and was just a threshold for possible action.

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