Fed's Yellen: Incoming data shows further progress on labor market

Fed's Chairwoman Janet Yellen stated during a Q&A session that incoming data shows further progress in the labor market. Also, she adds that for future hikes, "no necessary that market sees more than 50 pct chance of rate hike". Yellen expects that manufacturing firms to reduce jobs due to technological changes.

More headlines (via Reuters):

• Important for policymakers to recognize that there are workers harmed by technological change
• Says still haven't decided when to stop reinvesting proceeds from holdings