Janet Yellen: ‘We Are Operating Under a Cloud of Uncertainty at the Moment’

RUSH EXCERPT:
REPORTER: "The election of Donald Trump seemed to have -- to spark a major reaction in financial markets. Prices at record highs. The dollar has strengthened. Long-term interest rates are higher. Did any of that get discussed in the meeting? And did -- do you feel it will have any effect, either negative or positive on things? And also, did you have any broader discussion about trump's economic plan and what it might do and how the fed might have to react?"
YELLEN: "So, we did -- we did discuss these topics in our meeting today. I would simply psalm rise by saying that -- summarize by saying that all the FOMC participants recognize that there is considerable uncertainty about how economic policies may change and what effect they will have on the economy. And insofar as that will affect monetary policy, of course, we will have to factor those policies along with many other things, including the global environment and oil prices and other matters."