Fed's Yellen says forceful stimulus still needed
WASHINGTON, March 4
WASHINGTON, March 4 (Reuters) - Janet Yellen, the U.S. Federal Reserve's influential vice chair, said on Monday the central bank's aggressive monetary stimulus is warranted given how far below its full potential the economy is operating.
Downplaying the potential costs of the Fed's unconventional easing efforts, which currently include $85 billion in monthly asset purchases, Yellen highlighted the dangers of a prolonged period of economic malaise.
"Insufficiently forceful action to achieve our dual mandate also entails costs and risks," Yellen told a conference sponsored by the National Association of Business Economists. "At present, I view the balance of risks still calling for highly accommodative monetary policy to support a stronger recovery and more rapid growth in employment."
- Ford leans on global Mustang to burnish overseas image
- Gunmen kill U.S. teacher in Libya's Benghazi
- Obama says he's not allowed iPhone for 'security reasons'
- Special Report: Thailand secretly supplies Myanmar refugees to trafficking rings |
- U.S. fast-food workers walk off job, rally for higher minimum wage