Yellen Tells Congress That FED Will Continue to Prop Up the Economy (VIDEO)Submitted by emalvini on Wed, 07/16/2014 - 00:21
Fed will keep interest rates near zero for "considerable period"
BY MARTIN CRUTSINGER
WASHINGTON (AP) -- Despite recent sizable job gains, Federal Reserve Chair Janet Yellen is signaling that her agency is in no rush to withdraw the massive support it is providing the U.S. economy.
Extra caution is warranted, she said Tuesday, given a number of "false dawns" in this recovery when a hoped-for acceleration in growth has failed to materialize.