Recovery in labour market is far from complete, says Yellen
Add BT as a preferred source[WASHINGTON] US Federal Reserve chairman Janet Yellen said more work is needed to restore the labour market to health and pledged to maintain her predecessor's policies by scaling back stimulus in "measured steps".
While growth has picked up, "the recovery in the labour market is far from complete", Ms Yellen said yesterday in the text of remarks to the House Financial Services Committee. "I am committed to achieving both parts of our dual mandate: helping the economy return to full employment and returning inflation to 2 per cent while ensuring that it does not run persistently above or below that level."
Ms Yellen, 67, delivered her first public remarks as Fed chairman as policy makers pursue plans to gradually scale back the unprecedented bond-purchase programme she helped put in place. She repeated the Fed's outlook for further reductions in asset purchases and said they are not on a "pre-set course".
