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Taking It Slow

Yellen expects to keep borrowing costs low for years to come.

By Craig Torres, Bloomberg | Updated on March 30, 2015

Federal Reserve Chair Janet Yellen said interest rates will probably be raised in 2015 and made the case for a cautious approach to subsequent increases that will keep borrowing costs low for years to come.

In a speech in San Francisco on Friday, she emphasized that the coming tightening cycle will be unlike any other in recent times, as the U.S. economy continues to heal from the worst recession since the Great Depression.

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