{"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='Yellen: Uncertainties justify cautious approach' data-url='/boclips/videos/5c54cb38d8eafeecae1a2151' data-video-url='/boclips/videos/5c54cb38d8eafeecae1a2151' 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\nYellen: Uncertainties justify cautious approach\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'\u003eU.S. Federal Reserve Chair Janet Yellen said Tuesday that the American economy faces a number of uncertainties that require the Fed to proceed cautiously in raising interest rates.In delivering the twice-a-year economic report to...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eU.S. Federal Reserve Chair Janet Yellen said Tuesday that the American economy faces a number of uncertainties that require the Fed to proceed cautiously in raising interest rates.In delivering the twice-a-year economic report to Congress, Yellen cited a slowdown in job growth in April and May and said the Fed will be watching carefully to see whether the weaker momentum is temporary or a sign of a bigger problem.Yellen expressed concerns about the global economy, including slower growth in China and the upcoming vote in Britain over leaving the European Union. She also noted weak productivity growth in the U.S. and persistently low inflationYellen emphasized the same cautious approach the central bank took following its meeting last week when it left a key interest rate unchanged. The Fed boosted its benchmark rate by a quarter-point in December to a range of 0.25 percent to 0.5 percent and at the time projected another four rate hikes this year.U.S. Federal Reserve Chair Janet Yellen said Tuesday that the American economy faces a number of uncertainties that require the Fed to proceed cautiously in raising interest rates.In delivering the twice-a-year economic report to Congress, Yellen cited a slowdown in job growth in April and May and said the Fed will be watching carefully to see whether the weaker momentum is temporary or a sign of a bigger problem.Yellen expressed concerns about the global economy, including slower growth in China and the upcoming vote in Britain over leaving the European Union. She also noted weak productivity growth in the U.S. and persistently low inflationYellen emphasized the same cautious approach the central bank took following its meeting last week when it left a key interest rate unchanged. The Fed boosted its benchmark rate by a quarter-point in December to a range of 0.25 percent to 0.5 percent and at the time projected another four rate hikes this year.POOLWashington DC - 21 June 20161. Federal Reserve Chair Janet Yellen greeting Senators2. Various of Senator Richard Shelby (Republican, Alabama) gaveling hearing into session3. SOUNDBITE (English): Janet Yellen, Federal Reserve Chair:\"Since my last appearance before this committee in February, the economy has made further progress toward the Federal Reserve's objective of maximum employment. And while inflation has continued to run below our 2 percent objective, the Federal Open Market Committee (FOMC) expects inflation to rise to that level over the medium term. However, the pace of improvement in the labor market appears to have slowed more recently, suggesting that our cautious approach to adjusting monetary policy remains appropriate. In the labor market, the cumulative increase in jobs since its trough in early 2010 has now topped 14 million, while the unemployment rate has fallen more than 5 percentage points from its peak. In addition, as we detail in the Monetary Policy Report, jobless rates have declined for all major demographic groups, including for African Americans and Hispanics.\" 4. Wide of Senators+++SOUNDBITE STARTS ON WIDE OF SENATORS+++5. SOUNDBITE (English): Janet Yellen, Federal Reserve Chair:\"Economic growth has been uneven over recent quarters. US inflation-adjusted gross domestic product (GDP) is currently estimated to have increased at an annual rate of only 3/4 percent in the first quarter of this year. Subdued foreign growth and the appreciation of the dollar weighed on exports, while the energy sector was hard hit by the steep drop in oil prices since mid-2014; in addition, business investment outside of the energy sector was surprisingly weak. However, the available indicators point to a noticeable step-up in GDP growth in the second quarter.\"6. Pan from Yellen to Senators7. SOUNDBITE (English): Janet Yellen, Federal Reserve Chair:\"The FOMC continues to anticipate that economic conditions will improve further and that the economy will evolve in a manner that will warrant only gradual increases in the federal funds rate. In addition, the Committee expects that the federal funds rate is likely to remain, for some time, below the levels that are expected to prevail in the longer run because headwinds--which include restraint on US economic activity from economic and financial developments abroad, subdued household formation, and meager productivity growth mean that the interest rate needed to keep the economy operating near its potential is low by historical standards.\" 8. 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