Yellen commits Fed to boost still-weak US economy

Washington (Mar 5)  The head of the Federal Reserve vowed on Wednesday to do all that she can to boost a U.S. economy that is running well short of the central bank's objectives.

"The economy continues to operate considerably short of these objectives" of maximum employment and stable prices, Fed Chair Janet Yellen said, according to prepared remarks at a swearing-in ceremony at the central bank in Washington.

"The economy is stronger and the financial system is sounder," added Yellen, who succeeded Ben Bernanke on Feb. 1. "We have come a long way, but we have farther to go."

Source: CNBC