Yellen: Policy to stay easy after thresholds crossed

Nov 19, 2013, 2:23 PM EST
REUTERS/Joshua Roberts

U.S. monetary policy will probably remain very easy for a long while even after either the Federal Reserve's interest rate hike threshold on lower unemployment, or inflation, has been crossed, Fed Vice Chair Janet Yellen said in a letter to a U.S. lawmaker. In responding to a written question for the record from Massachusetts Democratic Senator Elizabeth Warren following her hearing last week before the Senate Banking Committee to become the next Fed chair, Yellen also said the jobless rate threshold was not a trigger for action.