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- Yellen says Fed intends to use policy rate as chief monetary policy tool but would resume use of balance sheet if warranted by a 'material deterioration' in economic outlook
Yellen says Fed intends to use policy rate as chief monetary policy tool but would resume use of balance sheet if warranted by a 'material deterioration' in economic outlook
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Proper size of balance sheet depends on 'as-yet-unknown factors' including future demand for bank reserves
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Fed would not need to raise rates 'all that much further' to reach current low estimates of the neutral Fed funds rate
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Economy picked up in second quarter aided by household spending, business investment and stronger global economy
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'Roughly equal odds' of faster versus slower growth than fed currently projects
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Carefully montoring inflation though ascribes recent dip to 'a few unusual' price declines for particular items
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