The Traderszone Network

Published in TZ Latest News 15 July, 2014 by The TZ Newswire Staff

Fed’s Yellen says U.S. recovery incomplete, defends loose policy

The U.S. economic recovery remains incomplete, with a still-ailing job market and stagnant wages justifying loose monetary policy for the foreseeable future, Federal Reserve Chair Janet Yellen told a Senate committee on Tuesday. In a strong defense of the central bank’s current stance, Yellen said that early signs of a pickup in inflation aren’t enough for the Fed to accelerate its plans for raising interest rates, a move currently expected in the middle of next year.