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Yellen imitates Greenspan in reversal of mid-1990s rookie role

In 1996, she had visited then Fed chief to push for higher rates; now, some of her fellow officials are doing same

Like Mr Greenspan before her, Ms Yellen is resisting pressure to lift benchmark borrowing costs, opting instead to give the economy room to run.


WHEN Janet Yellen was a rookie policy maker in September 1996, she and fellow Federal Reserve governor Laurence Meyer visited Alan Greenspan's office to make a pitch for higher interest rates.

With unemployment near 5 per cent, they were worried about inflation kicking...

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