Janet Yellen actually said...

"It is essentially a theory that fits reasonably, but certainly not perfect, explaining the inflation process."

"So we are seeing a recovery, I would say, in housing. It has gone on now for a number of years, but it is very, very gradual."

"We have articulated in a clear statement what our objectives are: 2 percent inflation and our interpretation of maximum employment."

"I do think we have made very substantial strides toward dealing with it, toward addressing it."