Yellen: More Needs to Be Done to Strengthen Economy

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Oct. 9 (Bloomberg) -- President Barack Obama nominates Janet Yellen as Chairman of the Federal Reserve. (Source: Bloomberg)

If confirmed by the senate, i pledged to do my utmost to keep that trust and meet the great responsibilities that congress has entrusted to the federal reserve, to promote maximum appointment, stable prices, and a strong and stable financial system.

I would also like to thank my spouse, george, and my son, robert.

I could not imagine taking on this new challenge without their love and support.

The past six years have been tumultuous with the economy.

And challenging for many americans.

While i think we all agree, mr.

President, that more needs to be done to strengthen the economy, particularly for those hardest hit by the great recession, we have made progress.

The economy is stronger, and the financial system sound or.

-- sounder.

As you said, mr.

President, considerable credit for that goes to chairman ben bernanke for his wise, courageous, and skillful leadership.

It has been my privilege to serve with him and learn from him.

While we have made progress, we have farther to go.

The mandate of the federal reserve is to serve all the american people, and too many americans still cannot find a job and worry how they will pay their bills and provide for their families.

The federal reserve can help if it does its job effectively.

We can help ensure that everyone has the opportunity to work hard and build a better life.

We can ensure that inflation remains in check and does not undermine the benefits of a growing economy.

We can and must safeguard the financial system.

The fed has powerful tools to influence the economy and the

This text has been automatically generated. It may not be 100% accurate.

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