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WASHINGTON (AP) — President Barack Obama will nominate Dr. John B. King Jr. to serve as Education Department secretary after receiving commitments from lawmakers to give his nomination speedy consideration, the White House said Thursday.
Janet Yellen said Thursday that the Federal Reserve had no plans to move toward negative interest rates, following the Swedish central bank's rate cut deep into negative territory. "I was surprised it was possible to move rates as negative as some countries have done," she said in a Senate hearing.