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Why Jobless Numbers Means Low Rates for Years
The most important part of the Fed-watching game is now this: figuring out how long it will take for the unemployment rate to drop to 6.5 percent. That's the benchmark that the Fed's rate-setting Open Market Committee pegged in December as the one that will prompt it to begin raising the Fed funds rate, now set between 0 and a quarter of a percentage point.
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