Federal Reserve Chair Janet Yellen tells the House Committee on Financial Services that since her last appearance the economy has improved but that...
{"Image ImageDescription": "Federal Reserve Chair Janet Yellen tells the House Committee on Financial Services that since her last appearance, the economy has improved but that inflation will remain low in the near term on account of low energy prices, and that inflation will rise to target rates in the near term. Yellen says slack in the labor market remains, saying there was modest growth in economic activity, adding that subdued following growth and dollar appreciation constrained exports. Yellen tells members of the Committee that demand slowed in the fourth quarter of 2015 but that household spending and disposable income is up, such as seen in automobile sales, investment and home building are rising. Yellen says that gradually justice in monetary policy will expand the economy and strengthen labor, although economic outlooks are uncertain, overseas in particular, such as the exchange rate policy of China and volatility, persistent weakness abroad and concerns about low commodity prices and high inventories.", "Image Copyright": "2016 Federal Network, Inc."}