RDQ Economics' John Ryding questions whether monetary policy can spur companies into hiring the long-term unemployed.
Factory activity in the U.S.mid-Atlantic region expanded in April at a faster clip than expected.
The jobless queue lengthened marginally last week, raising hopes for the recovery.
In a dovish message, Fed's Yellen stressed that the central bank would respond to shifting economic conditions as it judges when to finally tighten monetary policy.
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