The Fed has left its benchmark short-term rate at a record low near zero since December 2008. It's said it plans to keep it there at least as long as unemployment exceeds 6.5 percent. Last week, two Fed economists produced papers suggesting that the 6.5 percent threshold should drop a¿¿ to 5.5 percent or less. Doing so would signal to the public that the Fed would likely keep its benchmark rate low even longer than many assume.Some economists now predict that at its March meeting, the Fed will say it's reducing its threshold for any increase in short-term rates to an unemployment rate of 6 percent.
As Yellen Faces Senators, Here's What To Watch For
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