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Fed boss: No rate rise to boost stability

Posted: July 3, 2014 at 2:35 a.m.

Christine Lagarde (left), managing director of the International Monetary Fund and Janet Yellen, chairman of the U.S. Federal Reserve, listen Wednesday as Michel Camdessus, former managing director of the IMF, speaks during an event at the IMF in Washington, D.C.

Federal Reserve Chairman Janet Yellen said Wednesday that there is no need to change current monetary policy to address financial stability concerns although she sees "pockets of increased risk-taking" in the financial system.

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