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"The economy continues to operate considerably short of these objectives" of maximum employment and stable prices, the Federal Reserve Chair said at a swearing-in ceremony at the central bank in Washington.
At stake is the continuation of the financing of Greece by the creditors, including a Euro 1 billion ($1.35 billion) bailout installment to be paid in October.
Russia and China too have warned that the end of the US Federal Reserve's bond-buying programme could have a profound impact on the global economy and urged caution.
Overall, growth increased in the third quarter from a 2.5 per cent annual rate in the April-June period to the fastest pace in a year, the Commerce Department said.
A survey by HSBC showed that manufacturing activity expanded marginally in September, rising to 50.2 from August's 50.1.
The US government raked in a revenue of $200 billion last month, and reported outlays of $297.6 billion in the same month.
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- Apple may start 'trial assembly' in Karnataka by next month
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