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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.
By Doina Chiacu WASHINGTON (Reuters) - Democratic presidential candidate Hillary Clinton was endorsed by the Congressional Black Caucus on Thursday, a much-needed boost to her campaign as it competes for the important black voting bloc in South Carolina's primary this month. Clinton and her husband, former President Bill Clinton, have built strong ties to the African-American community over the past decades. Several lawmakers cited Clinton's long history of not only working on issues important to black Americans, but on getting Democrats elected and advancing the party's agenda.
By Lucia Mutikani WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits fell more than expected last week, suggesting the labor market remains on solid footing despite slowing economic growth and a stock market rout. Initial claims for state unemployment benefits declined 16,000 to a seasonally adjusted 269,000 for the week ended Feb. 6, the Labor Department said on Thursday. "The economy might be sailing into a storm, the financial markets say, but if so, the U.S. economy is in a very strong position to weather whatever comes, with the labor market the strongest in decades," said Chris Rupkey, chief economist at MUFG Union Bank in New York. The report was overshadowed by escalating fears over global growth, which sent the yield on the benchmark 10-year U.S. Treasury note plunging to a more than three-year low.