Fed: Janet Yellen

Janet Yellen: Yellen told a House of Representatives financial services committee that if the economy keeps improving, the Fed will take "further measured steps" to reduce the support it's providing through monthly bond purchases. , according to CBC. Yellen's remarks, her first public address as Fed chair, suggested that the Fed will keep its key short-term rate near zero for a prolonged period. U.S. Federal Reserve chairwoman Janet Yellen sought Tuesday to reassure investors that she will embrace the approach to interest-rate policy that her predecessor, Ben Bernanke, pursued before he stepped down as chairman last month. In her first public comments since taking over the top Fed job last week, Yellen said she expects a "great deal of continuity" with Bernanke. She signalled that she supports his view that the economy is strengthening enough to withstand a pullback in stimulus but that rates should stay low to further improve a still-lacklustre economy. (www.immigrantscanada.com). As reported in the news.