Inflation should rebound, but Fed uncertain - Yellen

Temporary factors likely explain the low U.S. inflation readings and prices should rebound next year, Federal Reserve Chair Janet Yellen said on Tuesday, though she added that she and her colleagues at the central bank are not necessarily convinced and the trend could prove more long-lasting.

The Fed is "not certain" the "surprising" inflation weakness will prove transitory, she said at NYU Stern School of Business in New York. Yellen added she is "open minded" on what is behind the low-inflation conundrum.

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