Janet Yellen: ‘Imperative’ for Federal Reserve to boost strong recovery
Janet Yellen, the White House nominee to lead the Federal Reserve, said Thursday the central bank will do whatever is in its power to back a robust US economic recovery.
“I consider it imperative to do what we can to promote a very strong recovery,” she told a Senate hearing on her nomination.
Yellen stressed that the Fed’s stimulus operations, especially its $85 billion a month asset purchase program to hold interest rates down, “cannot continue forever.”
But in the absence of inflation pressures and with the country still facing high unemployment and weak economic growth, she said, Fed policymakers “have the will and commitment” to strength growth and the jobs market.