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Janet Yellen, set to take over as head of the Federal Reserve next month, is "hopeful" that U.S. economic growth will accelerate in 2014 to reach 3 percent or more and persistently low inflation will move up toward the central bank's target, according to a Time magazine interview released Thursday. "I think we'll see stronger growth this year," Yellen said in the interview, released online ahead of the Time edition's January 20 publishing date. "Most of my colleagues on the Fed's policymaking committee and I are hopeful that the first digit of GDP growth could be 3 rather than 2." Economist Gus Faucher shares Yellen's optimism. The Federal Reserve provided $100 million of liquidity to foreign central banks in the latest week via its swap lines for foreign central banks, the New York Fed said on Thursday. The European Central Bank swapped $100 million with a term of 83 days and a rate of 0.59 percent. The Federal Reserve has established swap arrangements with the Bank of Canada, the Bank of England, the European Central Bank, the Swiss National Bank, and the Bank of Japan in an effort to respond to the reemergence of strains in short-term funding markets in Europe. The ECB and Bank of England both made no changes to their benchmark interest rates earlier today as had been expected. ECB President Mario Draghi said in his usual press conference following the meeting that he expects rates to stay low for an extended period and that growth risks remain on the downside. Lastly he said that the ECB stood ready to act if money-market conditions tightened or if the danger of deflation became imminent. US equities opened the day with a sharp sell-off; the S&P 500 (INDEXSP:.INX) was down as much as 7.5 points. However some buyers appeared later Few dealers expected the Federal Reserve to decide to pare back its massive bond-buying stimulus program in December, after the U.S. central bank surprised many investors by continuing the purchases at an unchanged pace in September...