{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='New FedRes chief seeks to reassure investors with continuity' data-url='/boclips/videos/5c54bc70d8eafeecae12ca4c' data-video-url='/boclips/videos/5c54bc70d8eafeecae12ca4c' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nNew FedRes chief seeks to reassure investors with continuity\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eUS Federal Reserve Chair Janet Yellen testified before the House Financial Services Committee on Tuesday in Washington, DC.It was her first appearance before Congress since she was sworn in a week ago.In wide ranging remarks, Yellen...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eUS Federal Reserve Chair Janet Yellen testified before the House Financial Services Committee on Tuesday in Washington, DC.\u003cbr/\u003eIt was her first appearance before Congress since she was sworn in a week ago.\u003cbr/\u003eIn wide ranging remarks, Yellen defended the policy of quantitative easing, suggesting it was successful in stimulating the economy.\u003cbr/\u003eShe also reassured the committee that she would embrace the approach to interest rate policy that her predecessor, Ben Bernanke, had pursued before he stepped down as chairman last month.\u003cbr/\u003e\"The objective has been to push down longer term interest rates, and I believe we have succeeded in doing that, and to more broadly make financial conditions more accommodative. The purpose is to spur spending in the economy and to achieve more rapid economic growth,\" she told committee members.  \u003cbr/\u003eHer message of continuity at the US central bank was a reassuring one for investors, and it contributed to a rally on Wall Street. \u003cbr/\u003eThe Dow Jones industrial average jumped 190 points in early afternoon trading.\u003cbr/\u003eYellen, the first woman to lead the central bank in its 100 years, was delivering the Federal Reserve's twice-a-year report a week after being sworn in to succeed Bernanke. \u003cbr/\u003eHe stepped down on January 31 after eight years as chairman.\u003cbr/\u003eShe said the bank was monitoring volatility in global markets, but didn't think it currently posed a serious risk to the US.\u003cbr/\u003e\"We've been very clear at the outset that we initiated our programme of asset purchases and an accommodative monetary policy more generally to pursue the goals that Congress has assigned to the Federal Reserve - namely supporting economic growth and employment in the context of price stability.\"\u003cbr/\u003eYellen was asked about the apparent lack of corporate responsibility for what many considered to be bad economic decisions.\u003cbr/\u003e\"I do have concerns about those activities, and the Federal Reserve cooperates with the Department of Justice as appropriate, when they take actions that are criminal in nature,\" she said.\u003cbr/\u003e1. Wide of Chair of US Federal Reserve, Janet Yellen, entering House Financial Services Committee hearing room\u003cbr/\u003e2. Mid Yellen walking to her seat\u003cbr/\u003e3. Wide hearing room\u003cbr/\u003e4. House Financial Services Committee Chairman, Jeb Hensarling, calling order\u003cbr/\u003e5. SOUNDBITE (English) Janet Yellen, Chair, US Federal Reserve:\u003cbr/\u003e\"The purpose of quantitative easing - we've been buying longer term treasury securities and agency mortgage-backed securities - the objective has been to push down longer term interest rates, and I believe we have succeeded in doing that, and to more broadly make financial conditions more accommodative. The purpose is to spur spending in the economy and to achieve more rapid economic growth.\"  \u003cbr/\u003e6. Wide shot of committee\u003cbr/\u003e7. SOUNDBITE (English) Janet Yellen, Chair, US Federal Reserve:\u003cbr/\u003e\"Certainly, capital markets are global and the monetary policies of any country affect other countries in such a world. But, we've been very clear at the outset that we initiated our programme of asset purchases and an accommodative monetary policy more generally to pursue the goals that Congress has assigned to the Federal Reserve - namely supporting economic growth and employment in the context of price stability.\"\u003cbr/\u003e8. Wide shot of committee\u003cbr/\u003e9. SOUNDBITE (English) Representative Michael Capuano, Massachusetts (Democrat):\u003cbr/\u003e\"Some of these biggest corporations simply write a cheque to 'stay out of jail' free, because it's not even their money, it's corporate money. And when I read it in 'American Banker,' it kind of puts (out) a big underscore to me.  And I was just wondering do you have any concerns about the lack of personal accountability in some of the largest institutions in this world when it comes to some of the activities they participated in, not just before 2008, but after 2008 as well?\"\u003cbr/\u003e10. SOUNDBITE (English) Janet Yellen, Chair, US Federal Reserve:\u003cbr/\u003e\"Well, I do have concerns about those activities, and the Federal Reserve cooperates with the Department of Justice as appropriate, when they take actions that are criminal in nature.\"\u003cbr/\u003e11. Wide of committee members\u003cbr/\u003e12. Hensarling leaving committee hearing room\u003cbr/\u003e13. 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