Yellen answering questions from reporters:

  • It's prudent to monitor financial conditions and spending in the economy
  • It's important not to over-blow the significance of this hike, it's only 25 bps
  • The outlook will evolve with incoming data
  • Neutral isn't a policy goal, it's a useful benchmark
  • Above-trend growth will help achieve inflation goal
  • Further decline in jobless rate will erode slack
  • "I'm not going to give you a simple formula for what we need to see on inflation to raise again. We're also going to monitor the path of employment."
  • "I have been surprised by the further drop in oil prices"

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