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February 27, 2014 AT 6:20 AM
Federal Reserve Chair Janet Yellen said on Thursday recent cold weather and storms may have weakened U.S. spending and, while the central bank will monitor it closely, it is yet difficult to know to what extent the U.S. economic recovery will be weaker than expected. She said "Since my appearance before the House committee, a number of data releases have pointed to softer spending than many analysts have expected,"