Kohn doesn't expect higher interest rates in short term

Despite signs of recovery, central banks are not likely to raise interest rates anytime soon, Federal Reserve Vice Chairman Donald Kohn said. "In my view, the economy is only now beginning to show signs that it might be stabilizing, and the upturn, when it begins, is likely to be gradual amid the balance sheet repair of financial intermediaries and households," Kohn said at a conference at Princeton University.

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