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             US Fed Chief Sees Continued Cuts in Economic Stimulus

   by VOA News

   The new chief of the U.S. central bank says policy makers are likely to
   curb their direct support of the American economy in the coming months
   if the world's largest economy continues to advance.
   Federal Reserve Chair Janet Yellen said Tuesday the bank will probably
   continue to cut its purchase of billions of dollars of securities in
   "further measured steps," but has not set a timetable. She offered her
   thoughts in testimony prepared for her initial congressional appearance
   since becoming the first woman to head the century-old bank.
   Yellen said she expects "a great deal of continuity" in Fed policies
   after taking over earlier this month from long-time Fed chairman Ben
   Bernanke.
   She said she strongly supports the asset purchases the Fed has made to
   pump money into the U.S. economy as it continues an uneven recovery
   from the 2008 recession. The Fed has already trimmed the purchases from
   $85 billion a month to $65 billion.
   Yellen said the U.S. economic recovery "grained greater traction" in
   the second half of 2013, and noted that more than three million jobs
   have been added since the Fed embarked on its asset purchases in
   September 2012. In the last two months, however, job growth has slowed
   in the U.S., even as the jobless rate has dipped to 6.6 percent, a
   five-year low.
   The new Fed chief said "too many Americans remain unemployed," and that
   the country's inflation rate is below the 2 percent target set by the
   bank's policy makers.
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   conomic-stimulus/1848943.html

References

   1. http://www.voanews.com/content/us-fed-chief-sees-continued-cuts-in-economic-stimulus/1848943.html