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Christine Lagarde

Yellen, Draghi upbeat despite tumult in Greece, China

The Chinese stock market is experiencing a terrifying freefall, and Greece is teetering on the brink of financial collapse. But the top central bankers in the United States and Europe see no reason for panic. European Central Bank chief Mario Draghi told reporters Thursday that the European economy is showing modest signs of improvement. And in congressional testimony this week, Federal Reserve Chair Janet Yellen said that the U.S. economy has proven resilient so far in the face tumultuous world events. The Fed, she said, is still likely to raise short-term interest rates later this year. Yellen said low oil prices and an improving job market are likely to boost the U.S. economy and easy...

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