Federal Reserve Chair
"We have to be very careful not to jump to conclusions" about recent weak job gains, she told the
By the time the Fed next meets
The Fed is buying
She said it would take "a notable change in the outlook" for the Fed to pause its tapering strategy.
"It's a fairly high bar to shake the Fed off the pattern it's on," says
Yellen, who was previously vice chair, became the first woman to lead the central bank on
She downplayed concerns that the waning of the stimulus is partly responsible for emerging market woes as higher U.S. interest rates prompt investors to pull money from overseas holdings and shift it to the U.S. She said the Fed made clear it would pare purchases as the recovery advanced.
Yellen said the Fed expects the economy to expand "at a moderate pace" this year and in 2015 after picking up the second half of 2013. But with unemployment at 6.6%, she said the labor-market recovery "is far from complete."
She is to testify before the
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