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U.S. Federal Reserve Chairman Janet Yellen holds a news conference in Washington December 16, 2015. REUTERS/Jonathan Ernst


The Economy May Be Stuck in a Near-Zero World

The Economy May Be Stuck in a Near-Zero World

When the Federal Reserve lowered interest rates to close to zero during the financial crisis, it was an extraordinary move. The central bank had hit the limits of conventional monetary policy, leaving the recovery to sputter along with less help than it needed. Now,...