Fed's Yellen: Funds rate been cut enough for now
TACOMA, Washington (Reuters) - San Francisco Federal Reserve Bank President Janet Yellen said on Wednesday that the federal funds rate has been lowered far enough for now after months of aggressive central bank rate cuts.
The Fed's key monetary policy tool "has come way down," Yellen said while critiquing presentations on the economy at a symposium for college students organized by the San Francisco Fed and the Pacific Northwest Regional Economic Conference.
Yellen said the Fed continues to grapple with difficult policy choices but restated that high inflation was a worry.
"The 1970s were a horrible period. If there's one thing that has to be very high priority, we don't want to go back to a period that is anything like that," she said.
(Reporting by Ros Krasny; Editing by Leslie Adler)
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