Yellen: Research needed on unconventional policy tools

Federal Reserve Chair Janet Yellen speaks during a conference on “Monetary Policy Implementation and Transmission in the Post-Crisis Period,” on Nov. 12, 2015, in Washington.

AP Photo/Manuel Balce Ceneta

WASHINGTON - Federal Reserve Chair Janet Yellen is stressing the need to review the unconventional monetary policies that central banks around the world deployed in response to the 2008 global financial crisis.

She says the post-crisis period offers policymakers an opportunity to assess the effectiveness of the tools and better understand the impact of new regulation.

Yellen's remarks, which came at the opening of a two-day research conference sponsored by the Fed, did not address current economic conditions or future policy moves by the Fed.

Last week, Yellen said that an interest rate hike at the Fed's next meeting in December was a "live possibility." The Fed has kept its benchmark rate at a record low near zero for the past seven years.