Fed’s Yellen argues for interest rate caution in exchange with Nader - from TRUNEWS

Federal Reserve Chair Janet Yellen on Monday argued for a cautious approach to the pace of rate hikes in an unusual exchange of letters with consumer advocate Ralph Nader.

In Yellen’s letter to Nader, which was also addressed to “Mr. Vidal,” the Fed chair repeated recent statements that the central bank should only gradually raise interest rates.

“An overly aggressive increase in rates … would at undercut the economic expansion, necessitating a lasting return to low interest rates,” Yellen said.

(Reporting by Jason Lange; Editing by Meredith Mazzilli)

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