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Janet Yellen chosen to lead Federal Reserve group on open market policy

The Federal Reserve’s key monetary policy-making panel, the Federal Open Market Committee, officially chose incoming Fed chief Janet Yellen as its chair Thursday. One day after outgoing Fed Chairman Ben Bernanke oversaw his final FOMC meeting, the Fed said the panel had unanimously selected Yellen to replace him. The FOMC…

Federal Reserve expected to stay the course on near-zero interest rate

The Federal Reserve holds a monetary policy meeting this week amid intense speculation about the timing of a wind-down of massive stimulus, although few expect a change in direction. The Federal Open Market Committee will wrap up a two-day meeting Wednesday with a policy statement that will be closely scrutinized…