The current economic situation and outlook, as well as the monetary policy, were the main focus of the hearing held twice a year.
Yellen told lawmakers she expected "a great deal of continuity" in the central bank's monetary policy, saying that she served on the Fed policy-setting
committee as the bank formulated its current policy strategy and she strongly
supported that strategy.
Yellen Nike Vapormax Scontate Saldi , 67, took the oath of office to lead the Federal Reserve System on Feb. 3, succeeding Ben Bernanke, who stepped down after eight
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when evaluating the conditions of the labor market.
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6.5 percent threshold the Fed once identified as the level that would need to be
reached before officials would consider a hike in the interest rates.
"If coming information broadly supports the Committee's expectation of ongoing improvement in labor market conditions and inflation moving back toward
its long-run objective, the Committee will likely reduce the pace of asset
purchases in further measured steps at future meetings Scarpe Nike Vapormax Scontate ," Yellen indicated steady pullback in Fed stimulus, referring to the Federal Open Market Committee, which sets monetary policy.
While admitting she was "surprised" by the two recent jobs reports that showed the pace of job creation running under what she had expected, Yellen
cautioned against jumping to conclusions of the longer trend. She told the
Congress that the Fed needs to see a "notable change" in the economic outlook to
consider pausing its withdrawal of stimulus.
The Fed trimmed its monthly purchases of Treasury and mortgage- backed securities by a total of 10 billion dollars in both December and January, citing
strengthening economy and continued improvement in the labor market.
The Fed policymakers have suggested they would continue to reduce the bond buying Nike Vapormax Scontate , which now totals 65 billion dollars a month, at a similar pace at each Fed
meeting and end it by the end of 2014, provided the economy develops generally
in line with expectations.
Yellen also highlighted the Fed's financial regulatory role, saying that the work of making the financial system more robust " has not yet been completed."
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SHANGHAI, Jan. 3 (Xinhua) -- Shanghai authorities have verified and unveiled all identities of the 36 victims killed in the Bund new year eve stampede, the
government's press office said on Saturday.
According to the victim list Air Vapormax Flyknit Scontate , 34 were residents of the Chinese mainland, 1 was from Taiwan and one was a Malaysian citizen.
The youngest victim was 12 years old and the oldest was 37 years old.
Students of Fudan University, East China Normal University and East China University of Political Science and Law were among those killed, according to
sources.
The stampede happened on Wednesday night as tens of thousands people assembled in Shanghai's historic riverfront walk to see a new year skyline show
in the Pudong financial area on the opposite side of the Huangpu River.
Police are investigating the cause of the stampede and the municipal government has set up a work team for rescue operations.
The municipal government has been caught in the backwash of criticism for not making effective preparation measures to cope with the crowds that flocked to
the Bund.
SYDNEY, Dec. 18 (Xinhua) -- Australian environmental authorities on Thursday expressed fears about a plague of fire ants that have been sweeping down the
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More than 600 Sydney homes will be searched this weekend by expert wildlife inspectors who fear an invasion of fire ants, which can kill native wildlife and
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Invasive Species Council chief executive Andrew Cox says the outbreak poses a threat.
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