Yellen says labour market recovery ‘far from complete' in first appearance as chair


The unemployment rate remains "well above levels that Federal Open Market Committee (FOMC) participants estimate is consistent with maximum sustainable employment," Janet Yellen said at her first Congressional hearing as Federal Reserve chair, adding that the Fed had followed through on its forward guidance policy and that she expected "a great deal of continuity in the FOMC's approach to monetary policy" going forward.

Asked by Republican representative Jeb Hensarling what the purpose of the Fe

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