Financial Watch

San Francisco Federal Reserve President Janet Yellen said her own thinking has turned the corner, and she’s now confident “the economy is on the right track,” according to remarks prepared for delivery before a meeting of Financial Executives International.

“I expect the pace of recovery to gain momentum over the course of this year and next as households and businesses regain confidence, overall financial conditions continue to improve, and lenders increase the supply of credit,” she said, in the prepared text.

“Even as we applaud the economic turnaround, it’s important not to lose sight of just how fragile this recovery is and how far we yet have to go before things return to normal.”