Fed could do more to support economy, Yellen says

President Barack Obama's nominee to head the Federal Reserve said the U.S. economy and labor market are performing far below their potential and the central bank has "more work to do" to support the recovery. Janet Yellen's comments came in testimony prepared for the Senate banking committee. They were widely viewed as a sign that Yellen, as the Fed's chairwoman, would continue to back relaxed monetary policy to help the economy.

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