Yellen sticks with company line in Congressional testimony

|By:, SA News Editor

"Looking ahead, I expect that economic activity will expand at a somewhat faster pace this year than it did last year, and that the unemployment rate will continue to decline gradually, and that inflation will begin to move up toward 2%," says Janet Yellen in prepared remarks in front of Congress' Joint Economic Committee.

"We recognize that much more must be accomplished," she concludes, promising that interest rates will remain low for an extended period of time.

Treasury prices are bopping around as she speaks, but remain pretty much as they were prior to the testimony, the 10-year yield up one basis point at 2.60%.

ETFs: TBT, TLT, TMV, TBF, EDV, TTT, TMF, ZROZ, SBND, TLH, DLBS, VGLT, UBT, TLO, TENZ, LBND, TYBS, DLBL

Live feed here - Q&A should start soon.