Yellen Downplays Financial Risks in Strong U.S. Economy

Janet Yellen testifies before the Joint Economic Committee, highlighting the strengthening economy and labor market. She anticipates gradual increases in the federal funds rate, suggesting a December move. Yellen addresses inflation, expecting it to stabilize around 2% but acknowledges potential persistent low inflation. She hands over the issue to Jay Powell if needed. Yellen also comments on market valuations, noting they are high but not a concern for financial stability, as the banking system is well-capitalized.

What does Janet Yellen say about the current state of the economy?

What is Yellen's expectation regarding the federal funds rate?

How does Yellen describe the current inflation situation?

What does Yellen suggest about the vulnerabilities in the finance sector?

What is Yellen's stance on the Fed's actions regarding asset valuations?