Head of the U.S. Federal Reserve Janet Yellen said that the weakness of the U.S. labor market suggests the need to maintain the unprecedented support from the regulator for ” some time ” to allow the majority of Americans wanting to find a job.
High unemployment , low growth rates of wages and other labor market problems show that Fed officials should keep easy monetary policy , Yellen said in a speech in Chicago.
” This extraordinary necessarily still necessary and still be required for some time , and I believe that my opinion is shared by the Fed colleagues – said Yellen . – Scars Great Recession still remain, and to achieve our goals will take time .”
Fed seeks to reduce borrowing costs , limit the rising cost of energy and make the creation of jobs for 10.5 million unemployed American using bond-buying program . Basic interest rate remains about zero from December 2008
Although the volume of monthly purchases of assets has been reduced from $ 85 billion to $ 55 billion , Yellen said the preservation of the “strong commitment ” to support progress in the labor market .
“Recent steps to reduce the rate the Fed purchases of securities are not an attempt rejection of our commitments , and reflect the view that progress in the labor market requires a smaller amount of our aid,” – she said.
Recall that the U.S. unemployment rate in February rose to 6.7% compared with 6.6 % in January, although job growth was higher than economists’ forecasts .