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Business Briefing

The Economy

Three Fed officials cautious

November 11, 2009|Times Wire Reports

Three top Federal Reserve officials struck a cautious note on the U.S. economy, citing high unemployment, heavy reliance on government support and commercial real estate woes as hurdles to recovery.

Speaking less than a week after the Fed left interest rates unchanged at near zero, San Francisco Federal Reserve Bank President Janet Yellen, Atlanta Fed chief Dennis Lockhart and Boston Fed President Eric Rosengren said the economy was still vulnerable.

The latest remarks eased investors' worries about higher interest rates.

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