Yellen pledges focus on jobs and stable prices

Friday, February 28, 2014, Vol. 38, No. 9

WASHINGTON (AP) — Federal Reserve Chair Janet Yellen says the Fed has made much progress in repairing the damage caused by the financial crisis and recession but cautions that more work must be done.

Yellen says too many Americans still can't find jobs or are being forced to work part time. She pledges to "do all that I can" to achieve the Fed's dual goals of maximum employment and stable prices.

Her comments come at a ceremonial swearing-in held at the Fed's headquarters Wednesday, attended by Treasury Secretary Jacob Lew, Fed staff and members of Yellen's family.

Yellen was sworn in officially on Feb. 3.