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Kevin Brady
Yellen sees improved economic growth, worries about housing slowdown
Yellen sees improved economic growth, worries about housing slowdown

Weak economic growth in the first three months of the year was mostly due to temporary factors such as the weather, and the recovery should pick up the rest of the year, Federal Reserve Chairwoman Janet L. Yellen told lawmakers Wednesday. "With the harsh winter behind us, many recent indicators suggest that a rebound in spending and production is already under way, putting the overall economy on track for solid growth in the current quarter," Yellen said at a hearing of the Joint Economic Committee. But although she said labor market conditions "continued to improve," Yellen described the job situation as "still far from satisfactory." The Labor Department said Friday that payrolls...

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