“‘I don’t see evidence at this point, in major sectors of asset prices, misalignments,’ she said during her confirmation hearing to be the next Fed chairman. ‘Although there is limited evidence of reach for yield, we don’t see a broad buildup in leverage, where the development of risks that I think at this stage poses a risk to financial stability.’ Yellen signaled her determination to use bond buying to strengthen the economy and drive down the nation’s 7.3% unemployment rate. As benchmark U.S. stock indexes rose to records, she sought to dispel concerns from senators that the central bank’s policy is pumping up the values of equities and housing to an extent that jeopardizes market stability.”
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