Janet Yellen defends Federal Reserve policies before Senate banking panel

Janet Yellen defended the Federal Reserve's stimulus program and communication efforts during a Senate hearing Thursday morning on her nomination to lead the central bank. In her opening remarks, Yellen characterized the U.S. economy as "significantly stronger" than it was when the recession began six years ago and said the recovery "continues to improve." She pointed to the turnaround in housing and strong auto sales as bright spots but added that the nation's stubbornly high unemployment rate ...