WASHINGTON — Federal Reserve Board Vice Chair Janet Yellen said Monday that policymakers continue to face a significant number of headwinds that have stalled often "forceful" efforts by the central bank to jump start an economic recovery.

Fiscal policy, housing, and optimism about the future prospects of the economy have all — in the past — helped to promote an economy recovery following a recession, but not this time, Yellen said. Rather, such typical "tailwinds" have only ended up hurting the economic recovery even further. Couple that with the unusual nature of the "Great Recession," policymakers at the Fed have gone to great lengths to help stimulate the economy, but have only achieved dismal results especially when it comes to the continued elevated rate of unemployment.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.