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Yellen: Stock prices 'quite high'

Fed chief says volatility of financial markets could rise when the benchmark interest rate is raised

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Ms Yellen said regulators were making progress in reducing incentives for market participants to take excessive risks.

Washington

JANET Yellen, the Federal Reserve chairwoman, said on Wednesday that stock prices were "quite high", stronger language than she had used previously.

Ms Yellen reiterated the Fed's view that risks to financial stability remained modest, despite years of near-zero interest

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