Saying she was surprised by the weakness in the last two jobs reports, Janet Yellen mentions the weather, and warns not to be too quick to jump to conclusions. “It is important to take our time to assess what the significance of this is."
The Fed, she says, could pause the taper should there be a significant change in the outlook. A "significant deterioration" in the outlook or the risk of deflation could force an increase in QE.
Live feed of the hearing
Previous coverage of prepared testimony