Fed's Yellen speech: US economy improving after harsh winter but risks remain

FXStreet (Łódź) - Fed Chair Janet Yellen, who testifies before the Congress's Joint Economic Committee on Capitol Hill reiterates that the US employment conditions are far from satisfactory.

• "Other data suggest that there may be more slack in labor markets than indicated by the unemployment rate."

• Yellen also says that housing data has been disappointing.

• “A high degree of accommodation remains warranted.”

• “Inflation below 2% could pose risks to the US economy.”

• The Fed head emphasizes however that the indicators released after the harsh winter suggest a rebound in spending and production.

• “The US economy is on track for solid growth in current quarter.”