Fed chief voices caution on rates

Harder to read labor market since recession, Yellen says

Posted: August 23, 2014 at 2:01 a.m.

Federal Reserve Chairman Janet Yellen speaks with a protester as she arrives for dinner Thursday during the Federal Reserve Bank of Kansas City’s conference at the Jackson Lake Lodge near Jackson Hole, Wyo.

Resisting pressure to more quickly tighten monetary policy, Federal Reserve Chairman Janet Yellen said Friday that there was no "simple recipe" for central bank policymakers in deciding when the labor market had improved enough to handle a rise in interest rates.

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