Fed Chairwoman Yellen: More Jobs Expected In US

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MIAMI (CBSMiami) — A day after addressing a senate committee, Federal Reserve Chairwoman Janet Yellen was back on Capitol Hill Wednesday.

Yellen provided testimony during the semiannual hearing on monetary policy and the State to the House Committee on Financial Services.

She reiterated that the economy continues to improve, as does the labor market with further job growth expected.

Yellen touted accommodative policy saying the economy is moving towards the central bank’s two percent objective.

The Fed’s top economist faced questions on the efficacy of Dodd-Frank regulations, in part designed to require banks to maintain a high level of capital reserves.

When asked if thanks to regulations in place institutions are no longer “too big to fail,” she said she believes they could be prosecuted without fear of disrupting the economy.

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