Yellen Defends Fed Independence, Faces House Republican Criticism
Federal Reserve Chair Janet Yellen defended the central bank’s independence on Wednesday at a U.S. congressional hearing, handling tough questions from Republican lawmakers who want to rein in the Fed’s authority. Yellen’s prepared remarks on the economy and Fed policy were identical to those from her appearance on Tuesday before the Senate Banking Committee, where she stood by her view that an accommodative monetary policy is still needed even though the economy is recovering.
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