Janet Yellen actually said...

"I strongly believe that monetary policy is most effective when the public understands what the Fed is trying to do."

"I would argue that we cannot have normal rates unless the economy is normal."

"We are certainly trying to be faithful to the intent of this rule, which is to eliminate short-term financial speculation in institutions that enjoy the protection of the safety net."

"I think it is important for Congress to recognize that as the economy recovers and both short- and long-term rates move up, a situation in which the Government's funding costs remain as low as they ar..."