WASHINGTON — Janet L. Yellen, the vice chairwoman of the Federal Reserve, said Wednesday that the lackluster trajectory of the economic recovery might require the Fed to continue its efforts to bolster growth even beyond the end of 2014.
…She said that one economic model used by the Fed suggested that interest rates should be held near zero until late 2015. While others have suggested an earlier increase might be appropriate, she said there still might be reasons to wait, including the insufficiency of current policy and the risk that the economic recovery might falter…
SOURCE: http://www.nytimes.com
