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By Howard Schneider WASHINGTON (Reuters) - Mike Yack has left the workforce twice in the last eight years and calls himself retired, yet at age 62 the former General Motors employee does not consider his working life over. Yack, who says he can get by on Social Security and his GM pension, is among millions of Americans who could re-enter the U.S. They don’t show up in the U.S. Federal Reserve Chair Janet Yellen, the willingness of people like Yack to return to the workforce contributes to the "slack" she sees in the labor force that could keep wages growth and inflation under control even as the economy picks up.
By Sarah Marsh and Walter Bianchi BUENOS AIRES (Reuters) - President Cristina Fernandez on Tuesday unveiled legislation that seeks to push bondholders to swap defaulted debt for new notes governed by Argentine law, a move aimed at skirting a U.S. Argentina slid into default last month after a New York court blocked an interest payment of $539 million owed to holders of debt issued under U.S. The judge said Argentina could not proceed with that payment until it had also settled on repayment terms with a group of hedge funds that had rejected the restructuring deal and are demanding full payment. Fernandez has argued Argentina is not in default and has consistently labeled the adverse U.S.