Former Federal Reserve Chairman Ben S. Bernanke said the U.S. economy should continue to recover, and he expects the central bank will continue to provide support to growth until the labor market is fully healed.
Janet Yellen was sworn in today as the chairman of the Federal Reserve’s Board of Governors in Washington, while her predecessor, Ben S. Bernanke, joined the Brookings Institution as a distinguished fellow in residence.
The following is a reformatted version of Federal Reserve Vice Chairman Janet Yellen’s prepared testimony for a Nov. 14 confirmation hearing before the Senate Banking Committee. She is President Barack Obama’s nominee to replace Fed Chairman Ben S. Bernanke when his term expires Jan. 31. The remarks were released today by the Fed.