Fed's Yellen speech: Will be challenging to reach 3% economic growth over the next few years

Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, is responding to questions from the Senate Banking Committee members with the key quotes, via Reuters, found below:

• Prepared to act against Wells Fargo board members if investigation deems it is appropriate
• Will be 'quite challenging' for u.s. to reach 3 percent economic growth over the next few years
• General agreement there are some 'distortions' in corporate tax code that could be changed to improve productivity

Key Notes:

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About Janet Yellen

Janet L. Yellen took office as Chair of the Board of Governors of the Federal Reserve System on February 3, 2014, for a four-year term ending February 3, 2018. Dr. Yellen also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body.