U.S. monetary policy will probably remain very easy for a long while even after either the Federal Reserve's interest rate hike threshold on lower unemployment, or inflation, has been crossed, Fed Vice Chair Janet Yellen said in a letter to a U.S. lawmaker.
Yellen also said the jobless rate threshold was not a trigger for action.
She was responding to a written question for the record from Massachusetts Democratic Senator Elizabeth Warren following her hearing last week before the Senate Banking Committee to become the next Fed chair.
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"Monetary policy is likely to remain highly accommodative long after one of the economic thresholds for the federal funds rate has been crossed," she said in her written answer.
Warren asked in her letter if it would be helpful to lower the Fed's unemployment rate target.
Yellen, nominated by President Barack Obama to replace current Fed chair Ben Bernanke when his term expires on Jan. 31, would be the first woman to lead the U.S. central bank. She is expected to win confirmation with relative ease.
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