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By Jonathan Spicer NEW YORK (Reuters) - The Federal Reserve's still distant decision to raise interest rates will depend on how far the U.S. economy remains from the central bank's employment and inflation goals, and how long it will likely take to meet them, Fed Chair Janet Yellen said on Wednesday. Yellen, in her second public speech as Fed chair, largely restated the U.S. central bank's stance, stressing that it would respond to shifting economic conditions as it judges when to finally tighten monetary policy after years of unprecedented stimulus. The Fed, frustrated with the slow U.S. recovery from the 2007-2009 recession, aims for maximum sustainable employment and a rise in inflation from just above 1 percent now to 2 percent. "The larger the shortfall of employment or inflation from their respective objectives, and the slower the projected progress toward those objectives, the longer the current target range for the federal funds rate is likely to be maintained," Yellen told the Economic Club of New York.
BOSTON (AP) — The man arrested near the Boston Marathon finish line carrying a backpack containing a rice cooker on the anniversary of the bombings was sent to a state psychiatric facility for an evaluation Wednesday following his initial court appearance.