March 25, 2014 / 7:34 PM / 5 years ago

Growth of women in economy has clear benefits: Fed's Yellen

Federal Reserve Chair Janet Yellen addresses a question at a news conference following the March 2014 Federal Open Market Committee meeting, while at the Board of Governors of the Federal Reserve System in Washington, March 19, 2014. REUTERS/Larry Downing

(Reuters) - Janet Yellen, the first woman to lead the U.S. Federal Reserve, said on Tuesday the benefits of the growing participation of women in the economy are “clear and substantial” as the country continues to recover from recession.

Yellen, who took the reins at the U.S. central bank last month, did not comment on monetary policy or the economic outlook in prepared remarks to a Women’s History Month reception at the U.S. Capitol.

Herself one of the most powerful policymakers globally today, Yellen said the success of the United States since the 1970s, including the sustained growth of family incomes, coincided with the fuller contribution of women in the economy.

“(T)he benefits of greater participation for women, it seems to me, are clear and substantial,” she said. “As we continue to make progress in recovering from the Great Recession, our country is going to need the best efforts, ideas and talent it can muster to succeed in an increasingly competitive global economy.”

Reporting by Jonathan Spicer; Editing by Andrea Ricci

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