"Considerable time" pledge is highly conditional says Yellen via ForexLive

• And linked to the FOMC's view of the economy
• 2014 growth forecasts are down a little bit
• FOMC dots had relatively little upward movement
• Relatively little upward movement in interest rate path
• FOMC dot may have moved on employment view
• Change in FOMC economic projections and dots quite modest
• Dot plot doesn't show members uncertainty on forecasts
• Slow pace of wage rises reflects labour market slack
• Growth has been slow relative to past recoveries
• 6.1% jobless rate still above normal and will come way down
• Still underuse of labour resources

FOMC dots Sep 2014

posted via ForexLive