SF FED Yellen spoke, hints no rate cut?

SAN FRANCISCO (Reuters) - San Francisco Federal Reserve Bank President Janet Yellen said on Monday that current financial market turmoil has added appreciably to downside risks for the U.S. economy.

Still, Yellen said that the goals of price stability and full employment must be the unswerving focus of policy-makers.

Monetary policy should not be used to shield investors from losses, Yellen said in remarks prepared for delivery at the National Association of Business Economics annual meeting.
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