The Federal Reserve is still aggressively stimulating an anemic U.S. economic recovery that has failed to bring rapid progress on employment, Fed Vice Chair Janet Yellen said on Monday.
In a rare address to the AFL-CIO, a politically influential labor union, Yellen, seen as a potential successor to Fed Chair Ben Bernanke next year, focused on the anomalously weak nature of the recent economic expansion.
“The gulf between maximum employment and the very difficult conditions workers face today helps explain the urgency behind the Federal Reserve’s ongoing efforts to strengthen the recovery,” Yellen said in her prepared remarks.
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