The Federal Reserve issued new rules on Tuesday to protect Americans from getting stung by unexpected fees or restrictions on gift cards.

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Janet Yellen, president of the Federal Reserve Bank of San Francisco, said she s supplying information to the White House as it considers her possible nomination to hold the second-highest position at the Fed.

STAYING THE COURSE: Janet Yellen, chief of the Federal Reserve Bank of San Francisco and President Barack Obama s top pick to become the No. 2 official at the Fed, said record-low rates are still needed to help the recovery.

Record-low interest rates are still needed to energize the economic recovery, a Federal Reserve official said Tuesday. Janet Yellen, head of the Federal Reserve Bank of San Francisco and President Barack Obama s top pick to be vice chair of the central bank, said the sluggish recovery she anticipates means unemployment will stay high for years.

The U.S. Treasury Department said on Tuesday it purchased $21.4 million in Small Business Administration 7a securities for settlement March 24.

Janet Yellen, president of the Federal Reserve Bank of San Francisco, said Tuesday she doesn t foresee an outbreak of inflation as a result of government efforts to stimulate the economy and that unemployment is likely to remain painfully high in coming years.