Janet Yellen walks back hawkish vibe

|By:, SA News Editor

The recovery still feels like a recession to many Americans, she tells a Chicago audience in a speech focused in-part on why the lower unemployment rate is overstating the strength of the labor market.

The "overall commitment to maintain extraordinary support for the recovery for some time to come" is a strong one, she says. "The scars from the Great Recession remain, and reaching our goals will take time."

Stocks move to session highs, the S&P 500 (SPY +0.9%).

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