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Kevin Brady

Yellen upbeat about growth in coming quarter

Yellen upbeat about growth in coming quarter

Federal Reserve Chairwoman Janet L. Yellen painted a mostly upbeat picture of the economy emerging from a weather-induced winter slowdown but gave no hints of when the central bank might start raising rock-bottom interest rates. In Capitol Hill testimony Wednesday, Yellen confirmed that the Fed is on target to end its controversial bond-buying stimulus program this fall and defended the Fed's easy money policies against criticism that they've helped Wall Street at the expense of average Americans. Still, Yellen warned that the jobs situation was "far from satisfactory" and that a recent slowdown in the housing market was worrisome. "While we have seen...