Fed Chair Yellen Q&A: focused on trying to achieve 2% inflation target and there has been no discussions on raising it
- Reiterates intention to return to a Treasury only portfolio
- 2% is not a ceiling, rather a symmetric objective
- Repeats recent lower inflation readings appear to be result some temporary measures at work
- Reiterates that the Fed should not follow any mechanical rule on monetary policy
- Balance sheet normalization process should start this year and "relatively soon"
- Intend to serve out my term (Feb 2018) and to achieve our mandated objectives; have not given any thought to another term