Yellen Vows To Continue Fed Stimulus Program

(Washington, DC) -- President Obama's nominee to chair the Federal Reserve vows to continue the Fed's aggressive stimulus program. In a Senate confirmation hearing, Janet Yellen said the economic recovery remains fragile. She warned that the Fed's stimulus program cannot continue forever. While encouraged by steady improvement in the economy, Yellen noted continued high unemployment and said there is still much hard work ahead.
If necessary, Yellen also vowed to take aggressive steps to head off another financial crisis. If confirmed by the Senate, Yellen will become the first woman to hold the top post at the U.S. central bank. She is currently the vice chair of the Fed. Current Fed chief Ben Bernanke will retire when his second term expires in January.