Janet Yellen said in prepared remarks to be delivered in a confirmation hearing on Thursday that the Federal Reserve helped restart the economy after the recession, but still there's more work to be done.
"We have made good progress, but we have farther to go to regain the ground lost in the crisis and the recession," reads the statement.
Yellen is at present serving as vice-chair on the Federal Reserve Board, she is nominated by President Obama to succeed Ben Bernanke as head of the central bank.
Bernanke's second term ends January 31, and in spite of the protests from a few Tea Party members, Yellen is mostly anticipated to be long-established for the position before then. Ten in the morning Eastern, Thursday, her hearing before the Senate Banking Committee is scheduled.
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