Janet Yellen actually said...

"Monetary policy will be set and calibrated to do the best we can to achieve our congressionally mandated objectives."

"The level of new construction of residential investment remains quite low relative to underlying demographic trends."

"Every Fed Chair that I can remember has come and told Congress that this is a looming problem with serious economic consequences."

"If the Fed had been forced to follow such a rule in recent years, millions of Americans would have suffered unnecessary spells of joblessness over this period."