Fed Chief Janet Yellen Sees Better Economy

In her first public remarks since taking over for Ben Bernanke as the Federal Reserve Chair, Janet Yellen sounded upbeat about the economy, including projections about unemployment and inflation. Yellen pledged to maintain the Fed's steady course forward, with less money-printing but continued low rates, in a speech to be delivered to Congress later on Tuesday. While gains in the economy have reduced unemployment, the current 6.6 percent is still above levels that the central bank finds "consistent with maximum sustainable employment," Yellen said. The Fed in late 2008 began buying bonds to bolster the economy after a recession brought it to the verge of collapse.

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