Yellen talking markets

  • There would seem to be increased recession fears
  • We've not yet seen a sharp drop off in growth, either globally or in the United States
  • We certainty recognize that global financial conditions bear close monitoring
  • Monetary policy is not on a pre-set course
  • It appears stresses this year relate to uncertainties regarding China

More:

  • I do not expect the US will soon be in a situation where it's necessary to cut rates
  • I continue to think many of the factors holding down inflation are transitory
  • We don't want to jump to conclusions on the US economy
  • We're watching inflation expectations