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With economic growth still stuck at a rate considered too low to bring down high unemployment, many economists feel more stimulus is needed to jump start the sluggish recovery and create jobs.
The Fed's latest move to pump more money into the economy was sharply criticized around the world and raised concerns of a weakening U.S. dollar and rising inflation.
Yellen is widely considered to be dovish on inflation. And she dismissed the idea that the Fed's program would cause runaway inflation in the future.
"As the economy more fully recovers, the Federal Reserve will need to remove this extraordinary monetary accommodation in order to maintain price stability and keep inflation expectations well anchored," Yellen said. "I am confident that the Federal Reserve has both the commitment and the tools to achieve this unwinding."