Fed's Yellen speech: We recognize dangers of persistent undershooting 2% inflation objective

Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, is responding to questions from Congress members with the key quotes, via Reuters, found below:

• Recognize dangers of persistent undershooting 2 pct inflation objective
• For several months, fed has seen unusually low inflation readings
• Some temporary factors appear to be at work in holding down inflation
• Premature to reach judgment that u.s. not on path to 2 pct inflation over next couple of years

Key Notes:

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