WASHINGTON (3/6/14)--At a ceremonial swearing in that took place Wednesday, new Federal Reserve Board Chairman Janet Yellin reiterated her promise to do her very best to work with her Fed colleagues and help restore the health of the economy and promote a strong and stable financial system.
"I am repeating this promise, in this distinguished company and to all others listening because that is what this ceremony is about," she said to the gathering in the Federal Reserve Building on 20th Street and Constitution Avenue NW. "The oath I have affirmed, identical to the one taken by everyone serving the Federal Reserve, is a public promise to carry out my duties guided by no interest other than the public's interest," she said in her written remarks.
Yellen said she will continue the work of repairing damage done by the financial crisis to the economy. "Too many Americans still can't find a job or are forced to work part-time. The goals set by Congress for the Federal Reserve are clear: maximum employment and stable prices.
"It is equally clear that the economy continues to operate considerably short of these objectives. I promise to do all that I can, working with my fellow policymakers, to achieve the very important goals Congress has assigned to the Federal Reserve," she said.
Those in attendance included members of the U.S. Congress, U.S. Treasury Secretary Jack Lew, and others from the Obama administration including fellow financial regulators.