FXStreet (Delhi) – Research Team at ANZ, notes that the Yellen’s statement largely reinstated many of the points she has made in recent weeks. Key Quotes “Yellen reinforced that the decision to move on rates was a prudent one. In particular, if the Fed waited too long to move on rates then it runs the risks of overshooting on its mandate later on. This may require an abrupt tightening which runs the risk of putting the economy in recession. Yellen said that they were watching financial conditions closely. She believes that overall conditions remain favourable for growth. She added that she would be concerned about market volatility if it were to be persistent. There were numerous questions about the FOMC’s view on inflation and the factors holding it low now. Yellen remains of view that factors holding inflation low are transitory and she remains confident inflation will head higher. Yellen wouldn’t be drawn on what specifically would trigger a tightening from the Fed. She simply stated that the process would depend on underlying conditions. This meant that policy could be tightened less/more quickly if the conditions need be.” For more information, read our latest forex news.