Yellen meets with representative of conservative groups unhappy with Fed policies

Federal Reserve Chair Janet Yellen has met with a group of conservative activists who are unhappy with the central bank's conduct of interest-rate policies.

The meeting Friday, which was set up in early February, came two days after Yellen came under heavy criticism from Republican lawmakers during a House hearing. They said Yellen had politicized decision-making at the central bank by favoring policies pushed by President Barack Obama and other Democrats. Yellen rejected the GOP criticism as unfounded.

Steve Lonegan, director of monetary policy at the conservative American Principles in Action, says that Yellen listened carefully to the group's proposals and asked thoughtful questions but did not indicate whether she supported their recommendations.

Representatives of the Heritage Foundation and Cato Institute also participated in the meeting.