Yellen: Fed couldn't have prevented financial crisis

The Federal Reserve was slow to understand how the collapse of the housing market would lead to a profound financial crisis, Chair Janet Yellen acknowledged Wednesday, arguing that even if it had acted more aggressively the crisis could not have been prevented.

ADP points to strong June job growth

Private-sector employers added 281,000 positions in June, according to payroll processor ADP in a report Wednesday that augers well for hiring as measured by the federal government.

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