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Yellen: Job market needs low rates ‘for some time’

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Posted: Monday, March 31, 2014 10:10 am | Updated: 10:30 am, Mon Mar 31, 2014.

WASHINGTON — Federal Reserve Chair Janet Yellen made clear Monday that she thinks the still-subpar U.S. job market will continue to need the help of low interest rates “for some time.”

Yellen’s remarks signaled that even after the Fed phases out its monthly bond purchases later this year, it has no plans to raise a key short-term rate anytime soon. The bond purchases have been intended to keep long-term loan rates low.

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