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What Yellen Thinks About US Economy?

Here comes Yellen’s testimony on US economy and monetary policy to the Senate Banking committee which was rescheduled from Feb 13 to today because of the winter storm. Yellen commented on Asset Purchases that Fed might reconsider to make some changes if there be any significant changes in the outlook but till now any conclusion cannot be drawn. After Yellen delivered Fed’s semiannual Monetary Policy Report many weak economic data released which Yellen thinks may be because of the adverse weather conditions. In term of Labor market, Yellen wants to consider other measures like number of people working part time, number of people unemployed for substantial amount of time to establish full employment in the economy. So in all Yellen think that the economy is recovering and made progress. Dollar is right now trading lower against its major counterparts.

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