The current economic situation and outlook, as well as the monetary policy, were the main focus of the hearing held twice a year.
Yellen told lawmakers she expected "a great deal of continuity" in the central bank's monetary policy, saying that she served on the Fed policy-setting committee as the bank formulated its current policy strategy and she strongly supported that strategy.
In the public debut in her new role, Yellen said while the economy gained steam at the end of 2013, recovery in the U.S. labor market was "far from complete," underscoring the importance of considering more than just the unemployment rate when evaluating the conditions of the labor market.
Her point of keeping an eye on wider range of labor indicators is particularly important as the unemployment rate, now at 6.6 percent, is near the 6.5 percent threshold the Fed once identified as the level that would need to be reached before officials would consider a hike in the interest rates.
"If coming information broadly supports the Committee's expectation of ongoing improvement in labor market conditions and inflation moving back toward its long-run objective Nike Dame Air Huarache Run Ultra SE Sko Sort På nettet , the Committee will likely reduce the pace of asset purchases in further measured steps at future meetings," Yellen indicated steady pullback in Fed stimulus, referring to the Federal Open Market Committee, which sets monetary policy.
While admitting she was "surprised" by the two recent jobs reports that showed the pace of job creation running under what she had expected, Yellen cautioned against jumping to conclusions of the longer trend. She told the Congress that the Fed needs to see a "notable change" in the economic outlook to consider pausing its withdrawal of stimulus.
The Fed trimmed its monthly purchases of Treasury and mortgage- backed securities by a total of 10 billion dollars in both December and January, citing strengthening economy and continued improvement in the labor market.
The Fed policymakers have suggested they would continue to reduce the bond buying, which now totals 65 billion dollars a month Nike Dame Air Huarache Run Ultra Br Sko Hvid På nettet , at a similar pace at each Fed meeting and end it by the end of 2014, provided the economy develops generally in line with expectations.
Yellen also highlighted the Fed's financial regulatory role, saying that the work of making the financial system more robust " has not yet been completed."
SAN FRANCISCO, July 1 (Xinhua) -- A group of scholars have written about a number of past "wicked problems" that confounded the society, economy, environment and politics in the United States.
Writing for a new book, just published by the Oregon State University Press Herre Nike Air Max TN Plus Udsalg Sort/Sølv Sko , Robert Lackey, a fisheries biologist who has worked for the U.S. Environmental Protection Agency (EPA) and the Oregon State University (OSU), tackles the issue of wild salmon recovery in the U.S. Pacific Northwest.
Lackey argues that the science and technology to restore wild salmon runs is available, but the solutions ultimately would be too restrictive and divisive to succeed. The billions of U.S. dollars spent on salmon recovery to make minute inroads into the solution might be considered "guilt money," he writes, noting that "it is money spent on activities not likely to achieve recovery of wild salmon, but it helps people feel better as they continue the behaviors and choices that preclude the recovery of wild salmon."
Another such issue in the book addresses the pros and cons of hydraulic fracturing Herre Nike NSW Cortez Flyknit Tilbud Sort Guld Sko , commonly referred to as "fracking." The process involves injecting liquid at high pressure into subterranean rocks, boreholes, etc., so as to force open existing fissures and extract oil or gas. Written by Christopher Weible and Tanya Heikkila of the University of Colorado at Denver, the essay explores how professional expertise, personal values, and affiliation with different groups affects how people approach the issue Herre Nike Air Vapormax 2018 Sko Sort Tilbud , and how the process might be regulated.
By addressing these challenges and proposing problem-solving methodologies to tackle wicked problems, the scholars, together with their editors, hope to help guide the United States through its current era of political polarization and complex issues.
The essays were compiled into the book, titled "New Strategies for Wicked Problems: Science and Solutions in the 21st Century."
Editors Edward Weber, Denise Lach and Brent Steel of the School of Public Policy at OSU, explore whether there is need for a new social contract for scientists and policy implementation Billige Nike Air Max 97 2017 Retro Herre Sko Hvid , arguing that plans to address issues are often rushed and lack sufficient time for implementation, and the timetable for addressing such issues rarely matches funding cycles. And in addition, leadership needs training, not only on issues, but on how to engage stakeholders and collaborate on processes.
"We also hope to energize the scholarly and practitioner-based conversations and real-world practices around these topics in ways that help leaders and stakeholders imagine new possibilities, conduct new experiments in implementation, and Herre Nike Air Max 97 Sko Sort 318001-001 Tilbud , ultimately, make even more progress in the ongoing, difficult battle against wicked problems and their less-than-desirable effects for society as a whole," they write in the concluding essay.
