Fed's Yellen: Core inflation has been little changed in recent months

Janet Yellen, the Chair of the Board of Governors of the Federal Reserve System, continues to make comments on monetary policy, with key headlines found below:

• Core inflation has been little changed in recent months
• Expect core inflation to move up
• FOMC judged modest increase was appropriate in light of economy's solid progress
• Policy remains accommodative
• Today's decision also reflects view that waiting too long to raise rates would require more rapid rise later on