Next Market Crash Looms as Yellen Promises to ‘Stay the Course’

Wednesday, February 12, 2014
By Paul Martin

FEBRUARY 12, 2014

Yesterday morning, new Fed Chairwoman Janet Yellen delivered her first prepared remarks as Fed Chief before the House Financial Services Committee. You can read the entire testimony here, but here are just a few quick takeaways.

The new chair of the Federal Reserve, Janet Yellen, promises to stay the course with no abrupt changes in current policy.

If the U.S. economy keeps improving, the Fed will take “further measured steps” to reduce its money-printing.

Yellen signalled that interest rates would remain low indefinitely.

Yellen said she believes the recent volatility in global financial markets does “not pose a substantial risk to the U.S. economic outlook”.

ON JOBS: Yellen sees improving U.S. jobs market, but adds that the ‘recovery’ is “far from complete”.

The Rest…HERE

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