Federal Reserve Chair Janet Yellen said the U.S. economy is now a net positive.
She said the economy is growing at a “solid pace” and has added jobs to its ranks.
The Fed has been looking to lift its economic growth forecast this year, which has been hit by the government shutdown.
Yellen also said she is confident that economic conditions will improve over the next couple of months, and that the economy will return to full employment over the long term.
While she noted that the labor market is not yet fully recovered from the recession that started in late 2009, she said she thinks the recovery will be sustained.
“The labor market continues to improve, with the unemployment rate dropping below 6 percent and the labor force participation rate rising to its highest level since the Great Recession,” she said.
As a result, the Fed will keep its current growth forecast unchanged at its November meeting.
Federal Reserve chair Janet Yelll. (AP)