WKYT | Lexington, Kentucky | News

Yellen: Fed monitoring recent weaker economic data

WASHINGTON (AP) - Federal Reserve Chair Janet Yellen says some recent economic figures have pointed to weaker consumer spending than had been expected. She says the Fed will be watching to see whether the slowdown proves only a temporary blip caused by severe winter weather.

Yellen is telling the Senate Banking Committee that the Fed will be alert to upcoming data to make sure that the economy keeps strengthening.

She is repeating remarks she made to a House committee earlier this month that the job market's recovery is "far from complete." In response to a question, she says she expects Fed policies to favor low interest rates "for quite some time."

Yellen's appearance completes her first twice-a-year report to Congress since becoming Fed chair this month.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 247550591 - wkyt.com/a?a=247550591
Gray Television, Inc.