The current economic situation and outlook, as well as the monetary policy, were the main focus of the hearing held twice a year.
Yellen told lawmakers she expected "a great deal of continuity" in the central bank's monetary policy Cheap Men's Air Jordan 1 Retro High OG Los Primeros Black AH7739-001 For Sale , saying that she served on the Fed policy-setting committee as the bank formulated its current policy strategy and she strongly supported that strategy.
Yellen, 67, took the oath of office to lead the Federal Reserve System on Feb. 3, succeeding Ben Bernanke Cheap Men's Air Jordan 1 Retro Jet Black White For Sale , who stepped down after eight turbulent years. She was previously the Fed's vice Chair.
In the public debut in her new role, Yellen said while the economy gained steam at the end of 2013, recovery in the U.S. labor market was "far from complete," underscoring the importance of considering more than just the unemployment rate when evaluating the conditions of the labor market.
Her point of keeping an eye on wider range of labor indicators is particularly important as the unemployment rate Cheap Mens Air Jordan 1 OG Royal Black Blue 555088-007 For Sale , now at 6.6 percent, is near the 6.5 percent threshold the Fed once identified as the level that would need to be reached before officials would consider a hike in the interest rates.
"If coming information broadly supports the Committee's expectation of ongoing improvement in labor market conditions and inflation moving back toward its long-run objective, the Committee will likely reduce the pace of asset purchases in further measured steps at future meetings," Yellen indicated steady pullback in Fed stimulus Cheap Mens Air Jordan 1 Reverse Shattered Backboard Black 555088-113 For Sale , referring to the Federal Open Market Committee, which sets monetary policy.
While admitting she was "surprised" by the two recent jobs reports that showed the pace of job creation running under what she had expected, Yellen cautioned against jumping to conclusions of the longer trend. She told the Congress that the Fed needs to see a "notable change" in the economic outlook to consider pausing its withdrawal of stimulus.
The Fed trimmed its monthly purchases of Treasury and mortgage- backed securities by a total of 10 billion dollars in both December and January, citing strengthening economy and continued improvement in the labor market.
The Fed policymakers have suggested they would continue to reduce the bond buying Cheap Mens Air Jordan 1 Low NS White White 872782-100 For Sale , which now totals 65 billion dollars a month, at a similar pace at each Fed meeting and end it by the end of 2014, provided the economy develops generally in line with expectations.
Yellen also highlighted the Fed's financial regulatory role, saying that the work of making the financial system more robust " has not yet been completed."
ANKARA Cheap Air Jordan 1 Brown Mens For Sale , April 1 (Xinhua) -- Turkey's economy grew faster than expected in 2013 at a rate of four percent compared to the previous year, the Turkish Statistics Institute (TurkStat) data showed on Tuesday.
Turkey's annual gross domestic product (GDP) in 2013 reached 122.3 billion Turkish Lira at constant prices, or about 58.2 billion U.S. dollars, reaching a year-on-year growth of four percent Cheap Men's Air Jordan 1 Retro High Flyknit Black Red 919704-001 For Sale , the TurkStat data showed.
Turkish per capita GDP also increased to 10,782 dollars at current prices in 2013.
Analysts attributed the faster economic growth mainly to the solid recovery in domestic demand in 2013 and a surprisingly strong fourth quarter performance when the economy expanded by 4.4 percent.
Earlier in the year, Turkish government forecast the 2013 growth to be 3.6 percent and 2014 growth to be 4 percent in its medium-term program.
HANOI, March 30 (Xinhua) -- Since the first day of the ongoing International Trade Fair for Laboratory Technology, Analysis, Biotechnology and Diagnostics (Analytica Vietnam 2017), China's national pavilion has been drawing a great deal of attention from both local and foreign visitors.
Captivating her audience with an eye-catching red liquid, Anna Cui, a salesperson from the Baoding Lead Fluid Technology Company Ltd., explained how her company's latest equipment works to a group of Vietnamese visitors.
"Our equipment has a mode to pump by hour and by volume. It is an effective assistant for teachers in their school's laboratories as it can set up the liquid flow and pumping time in an easy way," said Cui, surrounded by a crowd listening to her explanation with enthusiasm.
"The most outstanding features of the equipment are its high accuracy, cleanliness and, more importantly, it will cause no pollution," Cui stressed, adding that the product made by her company would beat competitors, thanks to its reasonable price and guaranteed quality.
Speaking to a local university professor at her company's pavilion, Cui went on to explain that the equipment has been widely used in laboratories in environmental protection department in colleges and universities.
"This is the first time that Lead Fluid has showcased its products at Analytica Vietnam, however the company had participated in numerous similar events held in Germany, the United States and Thailand, among other countries," Cui told Xinhua.
"In Vietnam, we see a great potential to promote our products. I've just received a visitor, who said he is a professor at a college in the capital city of Hanoi. He said that he has used an equivalent equipment by a different maker from Europe or the United States. After reviewing our equipment, he was very surprised at its simple operations and preferential price," Cui said, proudly.
Similarly, Chris Li, from Huanghua Faithful Instrument Company Ltd., a company specializing in providing laboratory fridges and freezers, told Xinhua that Vietnam is a market with great potential.