Yellen, in Testimony, Says Fed Has More Work to Do

Yellen’s speech is available now, available here along with the relevant headline points.

The Wall Street Journal has a recap:

• U.S. economy has made “good progress” since the depths of the recession, but has farther to go in regaining what was lost
• On unemployment (7.3% in October) -“is still too high, reflecting a labor market and economy performing far short of their potential”
• Inflation remains below the central bank’s 2% target and will likely remain low for some time
• She defended the Fed’s controversial $85 billion-per-month bond-buying program, anticipating criticism from some senators

The hearing is before the Senate Banking Committee and is scheduled to start at 10 a.m. Yellen is expected to be confirmed (after some grandstanding from the clowns, before they get back feathering their own nests and gutting the US economy).

Yellen, in Testimony, Says Fed Has More Work to Do

(The Wall Street Journal is often gated, so if you’re unable to access the article try a search of Google news using the headline)