Yellen: Wage Hike Would Have Some Negative Impact On Jobs

Yellen: Wage Hike Would Have Some Negative Impact On Jobs
(Washington, DC) -- Fed Chair Janet Yellen says a hike in the minimum wage would likely have some negative effects on jobs.
Testifying before a Senate committee, Yellen said it's not clear how large that effect would be. Yellen did say a boost in the minimum wage would benefit some people. President Obama has been pushing hard for a hike in the minimum wage. The federal minimum wage has been at seven-25 an hour since 2009.
Additional audio:
Federal Reserve Chair Janet Yellen says a higher minimum wage will help low-wage workers.
Yellen was asked if negative effects could come from a higher minimum wage.
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