Yellen’s Maiden Presser: Chairwoman Says QE Needed Beyond Previous Target

Yellen Moves Markets in First Press Conference (Fox Business)

Federal Reserve Chair Janet Yellen, in her first press conference since taking the helm of the U.S. central bank, sent stock markets plunging Wednesday when she said the Fed might start raising interest rates six months after ending its bond purchasing program.

The Dow Jones Industrial average hit an intraday low -- down about 210 points -- shortly after Yellen made her comment around 3 p.m.

The Dow regained much of those losses, but markets seemed surprised at Yellen’s specificity.