The Federal Reserve Chair Janet Yellen testified before the Senate Banking Committee today. She said:

• The economy in the U.S. is continuing to improve but the recovery is not yet complete;
  
• There's no formula when the Fed will begin to increase its interest rate;
  
• Interest hike will based on a variety of indicators;
  
• If the labour market continues to improve more quickly, the Fed will hike its interest rate sooner than expected, but weaker conditions will mean a longer period of low interest rate;
  
• The Fed will continue to boost economic activity;
  
• Inflation remained below the Fed's 2% target;
  
• Monetary policy remains appropriate.