United States Federal Reserve Chair Janet Yellen speaks at the 2014 National Interagency Community Reinvestment Conference in Chicago, March 31, 2014. (REUTERS/John Gress)
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Federal Reserve Chairwoman Janet Yellen said the central bank's unprecedented stimulus will be needed for "some time," in an attempt to ease investor concern that interest rates may rise earlier than previously forecast.Yellen, citing the examples of three people struggling to find work, used her speech to a community development conference in Chicago to make the case for continued Fed stimulus, which has included more than five years of interest rates near zero and trillions in bond purchases.Stocks rose as Yellen highlighted the Fed's commitment to spur the economy and get 10.5 million unemployed Americans back into work once more.Share prices fell on March 19, when she said in a news conference that the Fed might start raising the benchmark interest rate above zero about six months after ending its bond purchase program. Yellen did not mention a timetable Monday.
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