WASHINGTON Real Air Jordan Shoes For Sale , Feb. 11 (Xinhua) -- In her first testimony to the Congress, U.S. Federal Reserve Chair Janet Yellen reiterated central bank's plan to taper its stimulus exit despite recent weakness in the economy.
The current economic situation and outlook, as well as the monetary policy, were the main focus of the hearing held twice a year.
Yellen told lawmakers she expected "a great deal of continuity" in the central bank's monetary policy, saying that she served on the Fed policy-setting committee as the bank formulated its current policy strategy and she strongly supported that strategy.
Yellen, 67, took the oath of office to lead the Federal Reserve System on Feb. 3 Real Air Jordan Retro For Sale , succeeding Ben Bernanke, who stepped down after eight turbulent years. She was previously the Fed's vice Chair.
In the public debut in her new role, Yellen said while the economy gained steam at the end of 2013, recovery in the U.S. labor market was "far from complete," underscoring the importance of considering more than just the unemployment rate when evaluating the conditions of the labor market.
Her point of keeping an eye on wider range of labor indicators is particularly important as the unemployment rate, now at 6.6 percent, is near the 6.5 percent threshold the Fed once identified as the level that would need to be reached before officials would consider a hike in the interest rates.
"If coming information broadly supports the Committee's expectation of ongoing improvement in labor market conditions and inflation moving back toward its long-run objective Real Air Jordan For Sale , the Committee will likely reduce the pace of asset purchases in further measured steps at future meetings," Yellen indicated steady pullback in Fed stimulus, referring to the Federal Open Market Committee, which sets monetary policy.
While admitting she was "surprised" by the two recent jobs reports that showed the pace of job creation running under what she had expected, Yellen cautioned against jumping to conclusions of the longer trend. She told the Congress that the Fed needs to see a "notable change" in the economic outlook to consider pausing its withdrawal of stimulus.
The Fed trimmed its monthly purchases of Treasury and mortgage- backed securities by a total of 10 billion dollars in both December and January, citing strengthening economy and continued improvement in the labor market.
The Fed policymakers have suggested they would continue to reduce the bond buying, which now totals 65 billion dollars a month Real Jordan Retro For Sale , at a similar pace at each Fed meeting and end it by the end of 2014, provided the economy develops generally in line with expectations.
Yellen also highlighted the Fed's financial regulatory role, saying that the work of making the financial system more robust " has not yet been completed."
The search for missing Malaysia Airlines Flight MH370 is set to be the most expensive in aviation history, analysts say, as efforts to find the aircraft deep in the Indian Ocean show no signs of slowing.
The Boeing 777 vanished on March 8 with 239 people on board, after veering dramatically off course en route from Kuala Lumpur to Beijing and is believed to have gone down in the sea off Australia.
Underwater search for MH370 Underwater search for MH370 Underwater search for MH370
Australia, which is leading the search in a remote patch of water described as "unknown to man" Real Jordan Shoes For Sale , has not put a figure on spending, but Malaysia has warned that costs will be "huge".
"When we look at salvaging (wreckage) at a depth of 4.5 kilometres, no military out there has the capacity to do it," Acting Transport and Defence Minister Hishammuddin Hussein said Thursday.
"We have to look at contractors, and the cost of that will be huge."
Ravikumar Madavaram, an aviation expert at Frost & Sullivan Asia Pacific, said Malaysia Air Jordan Shoes For Sale Online , Australia and China, which had the most nationals onboard the flight, were the biggest spenders and estimated the total cost up to now at about US$100 million.
"It's difficult to say how much is the cost of this operation... but, yes, this is definitely the biggest operation ever (in aviation history).
"In terms of costs this would be the highest," he told AFP.
In the first month of the search -- in which the South China Sea and Malacca Strait were also scoured by the US, Malaysia Air Jordan Retro For Sale Online , Singapore and Vietnam -- the Pentagon said the United States military had committed US$7.3 million to efforts to find the plane.
Meanwhile the Indian Ocean search, in which assets have also been deployed by Australia, Britain, China, South Korea, Japan and New Zealand, has failed to find anything conclusive.
Hopes rest on a torpedo-shaped US Navy submersible Air Jordan For Sale Online , which is searching the ocean floor at depths of more than 4,500 metres in the vicinity of where four signals believed to have come from black box recorders were detected.
David Gleave, an aviation safety researcher at Britain's Loughborough University, said the costs "will be of the order of a hundred million dollars by the time we're finished, if we have found it (the plane) now".
But he said the longer it took to find any wreckage, the more costs would mount because scanning the vast ocean floor "will take a lot of money because you can only search about 50 square kilometres a day".
Salvaging anything would also depend on how deep the ocean is at the crash point and how dispersed the wreckage, with weather and politics also complicating factors Jordan Retro For Sale Online , he said.
The fate of MH370 has drawn parallels with the hunt for Air France Flight 447 which plunged into the Atlantic in 2009.
The two-year operation to recover its black box, which involved assets from France, Brazil and the US, has been estimated to have cost 80-100 million euros, according to figures cited by France's Investigation and Analysis Bureau (BEA).