Lagarde, Yellen speak at IMF headquarters
                     English.news.cn | 2014-07-03 08:59:08 | Editor: Shen Qing

US-WASHINGTON-FEDERAL RESERVE-IMF

Christine Lagarde, Managing Director of the International Monetary Fund (IMF), pauses during her speech at the headquarters of the IMF in Washington D.C., capital of the United States, July 2, 2014. U.S. Federal Reserve Chair Janet Yellen said Wednesday that she didn't see the need for the central bank to change current monetary policy in order to address financial stability concerns, although she acknowledged "pockets of increased risk-taking" in the financial system. (Xinhua/Bao Dandan)

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Fed Chair says no need to change monetary policy to tackle financial stability risks

WASHINGTON, July 2 (Xinhua) -- U.S. Federal Reserve Chair Janet Yellen said Wednesday that she didn't see the need for the central bank to change current monetary policy in order to address financial stability concerns, although she acknowledged "pockets of increased risk-taking" in the financial system.

"I do not presently see a need for monetary policy to deviate from a primary focus on attaining price stability and maximum employment, in order to address financial stability concerns," Yellen said in a speech at the International Monetary Fund (IMF). "The potential cost, in terms of diminished macroeconomic performance, is likely to be too great to give financial stability risks a central role in monetary policy decisions, at least most of the time." Full story

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