Yellen as Fed Vice Chair Could Favor Low Rates
President Obama weighs Janet Yellen for Fed vice chairman and considers two other nominees to boost Ph.D. economic and financial regulatory expertise. If confirmed, the trio would guide policy during a fragile recovery amid unemployment, foreclosures and credit access, with Yellen seen as dove on inflation.
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Retail sales post February gain amid snowstorm resilience
February retail sales rose 0.3 percent led by non autos, while autos fell 2 percent on Toyota recalls. Analysts warn spending gains depend on jobs and wages, but broader categories like appliances and restaurants posted solid gains signaling renewed consumer confidence. Nordstrom Macy's and Target cited as shoppers braved snow to shop.
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Stocks finish mixed after economic reports
Mixed economic data kept U S markets largely unchanged on Friday. The Dow edged higher while the S P 500 dipped and the Nasdaq slipped, with weekly gains led by bank optimism and Citigroup.
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