WASHINGTON (Reuters) - The Federal Reserve's policymaking committee does not expect to cut interest rates anytime soon, Federal Reserve Chair Janet Yellen said on Wednesday.
"I do not expect that the FOMC is going to soon be in a situation where it is necessary to cut rates," Yellen told a committee of lawmakers in Congress, noting that the strength of the labor market gives her succor.
She added that she still expects factors holding down inflation to be transitory.
(Reporting by Lindsay Dunsmuir, Editing by Franklin Paul)