The Economy

Fed Nominee Yellen: 'More Needs to Be Done' for Recovery

Oct. 9, 2013

Fed vice chair says U.S. unemployment still too high.

WASHINGTON - Janet Yellen, President Barack Obama's pick to lead the Federal Reserve, said Wednesday that more work is needed to pull the economy away from the 2008 economic crash.

"More needs to be done to strengthen the recovery, particularly for those hardest hit by the Great Recession," Yellen said as she accepted the nomination to replace outgoing Fed Chairman Ben Bernanke.

"The mandate of the Federal Reserve is to serve all the American people. And too many Americans still can't find a job and worry how they'll pay their bills and provide for their families.

"The Federal Reserve can help if it does its job effectively."

Copyright Agence France-Presse, 2013

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