New Federal Reserve Chair Janet Yellen testified before a Congressional committee for the first time since taking over the job, and testified that while things aren’t where they should be, at least they aren’t where they were six years ago.

"While we still have a ways to go and the job market isn’t back to full strength there has been substantial job creation,” Yellen testified.

But she does think things will get better in the future.

“The unemployment rate will continue to decline. Inflation will continue to move back to 2% in the coming years,” she explained.

So, the Fed will continue to stimulate the economy to the tune of $65 billion a month. The markets reacted positively on Wall Street, and KTRH Money Man Pat Shinn says investors liked what they heard.

“Yellen was very careful not to upset the markets,” Shinn said.

So what does this mean for you and your money?

“The basic effect will be minimal. If you have money in a market fund that’s not earning anything it will be the same for the rest of the year,” Shinn explained.

But some of you will see some bigger bills.

"If you’re going to be looking to buy a home or refinance a mortgage, your rates are going to be higher,” Shinn stated.