Fed's Yellen speech: Import prices are rising at a modest rate

Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, is giving her remarks before the Senate Banking Committee with the key quotes, via Reuters, found below:

• Import prices are rising at a modest rate
• Systematic risk remains in housing, suggests reform move forward
• Wouldn’t favor reducing capital for most systemic banks
• Premature to conclude inflation trend below 2%

Key notes:

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About Janet Yellen

Janet L. Yellen took office as Chair of the Board of Governors of the Federal Reserve System on February 3, 2014, for a four-year term ending February 3, 2018. Dr. Yellen also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body.