Fed's Yellen: Fed policy is not on a pre-set course

Janet Yellen, the Chair of the Board of Governors of the Federal Reserve System, responds to questions from the press:

Key quotes (via Reuters)

• Fed policy not set in stone, depends on data
• If there is a persistent overshoot on inflation, will adjust policy
• Inflation is moving up toward our 2% objective
• Wage increases being held down by slow productivity growth