New U.S. Fed chief Janet Yellen says stimulus cuts will continueUpdated: 2014-02-12 04:14:00 (KST)
The new U.S. Federal Reserve chief Janet Yellen has pledged to keep cutting the central bank's stimulus measures for the U.S. economy.
In her first public appearance as the Federal Reserve chair on Tuesday, Yellen said the tapering will continue, but she stressed the Fed must keep its eye on the unusually high number of long-term unemployed and part-time workers.
Yellen also said interest rates would remain very low.
Analysts say Yellen's testimony signals a continuation of the policies started under her predecessor, Ben Bernanke.
Wall Street was quick to react to her remarks.
The Dow Jones Industrial Average rose 2-hundred points as investors welcomed Yellen's steady tone.
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