Continued comments from Yellen in her Q&A:
- We want to see inflation get back to 2% as fast as we can
- We've long expect to see some slowing in Chinese growth so that's not a surprise
- Developments in financial markets in part reflected concerns about Chinese economic performance
- We saw substantial pressure on commodities and those developments effected trading partners
- We've seen significant outflows of capital from those countries
- We have seen a tightening of financial conditions
- US job creation pace has been impressive
- We would look at all options, including negative rates, if necessary but it's not something we've discussed
The Fed is as happy as ever with the domestic economy. Not hiking today was all about the turmoil in markets and questions about global growth along with weakness in oil and strength in the US dollar.
