Moreover, as the Administration stresses with each economic report, indicators of economic performance can be volatile and are subject to substantial revision.

WHITEHOUSE: Advance Estimate of GDP for the Fourth Quarter of 2012

Although GDP is the broadest measure of economic activity, other indicators of economic performance suggest that the economy continued to recover in the fourth quarter, despite the impact of Hurricane Sandy and uncertainty surrounding fiscal issues.

WHITEHOUSE: Advance Estimate of GDP for the Fourth Quarter of 2012

"The continuing volatility of markets and recent indicators of economic performance confirm that challenges remain, " the Fed chief said.

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