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Janet Yellen: Job Woes Cyclical; Fed Right to Target Jobs
Monday, February 11, 2013
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The high unemployment level results from "a broad-based cyclical shortage of demand" and the Fed is correct to target maximum employment as part of its policy stance, Federal Reserve Board Vice Chair Janet L. Yellen said Monday.

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Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.

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