Yellen Says Economy Falling Short of Congress-Mandated Goals

Federal Reserve Chair Janet Yellen said the Fed has more to do to reach its goals for inflation and unemployment, and to repair damage from the financial crisis.

“Too many Americans still can’t find a job or are forced to work part time,” Yellen said at her ceremonial swearing-in event today in Washington. While the central bank’s mandates of full employment and stable prices are clear, “it is equally clear that the economy continues to operate considerably short of these objectives,” she said.