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Fed’s Yellen Supports Stimulus to Spur Jobs

Wall Street Journal (02/12/13) Victoria McGrane

Janet Yellen, vice chairwoman of the U.S. Federal Reserve’s board of governors, said in a speech Monday that the large gap between the difficult conditions faced by workers and the maximum level of employment possible is a key factor pushing the Fed’s moves to increase economic growth. Although down from the 10% unemployment rate seen during the recession, the current unemployment rate is higher than at any point in more than two decades before the recent recession, Yellen said.