Monday, August 25, 2014
(Jackson Hole, WY) -- Fed chief Janet Yellen says the job market is still weakened by the recession. In a speech Friday at an annual banking conference Jackson Hole, Wyoming, Yellen said the Federal Reserve should be cautious when it comes to deciding when key interest rates should rise. The federal funds rate has been at a rock-bottom zero to a quarter-percent for years in an effort to boost the economy. Yellen said that while the unemployment rate has fallen faster than expected, it doesn't include the millions of people who have left the job market or been stuck in part-time jobs.