Janet Yellen's 'Six Months' Comment Isn't Really Too Shocking

During the Q&A today, Fed Chair Janet Yellen said: "[T]he language that we used in the statement is considerable period. So I, you know, this is the kind of term it’s hard to define. But, you know, probably means something on the order of around six months, that type of thing.” She was referring to the sentence in the FOMC statement: The Committee continues to anticipate, based on its assessment of these factors, that it likely will be appropriate to maintain the current target range for the...