Speaking to reporters

She adds:

  • she does not see excess reserves having appreciable effect on bank lending
  • we are trying to right size regulation so we don't overburden Community Banks
  • on share buybacks she says it's in the purview of businesses to make decisions about how to spend money
  • current inflation targeting system works well so bar is high to change it
  • proposal to switch to price level targeting has some appeal

The comments are not that enlightening.