Fed's Yellen expects 3% growth

Federal Reserve Vice Chairwoman Janet Yellen expects to see a stronger US economy in 2014.

United States Federal Reserve Vice Chairwoman Janet Yellen, who takes the reins of the Fed on February 1, said in an interview with Time Magazine published Thursday that she expects to see a stronger US economy in 2014 and is hopeful of growth of at least 3 per cent.

"I think we'll see stronger growth this year. Most of my colleagues on the Fed's policymaking committee and I are hopeful that the first digit (of GDP growth) could be 3 rather than 2..," she said.

Ms Yellen, who was confirmed as Federal Reserve Chairwoman on Monday, also said she expects a housing market pick-up after a lull in the Fall.

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