Yellen Reiterates Fed Policy Is Not on a Pre-Set Course

The transcript discusses the stability of the federal funds rate and the uncertainty of the economic outlook. It highlights how changes in economic policies, including fiscal policies, can influence this outlook. The transcript also emphasizes that policy decisions are not predetermined and are influenced by various factors, including economic conditions and the dual mandate.

What is the current status of the median path for the federal funds rate?

How do changes in economic policies potentially affect the economic outlook?

Why is it considered too early to know how fiscal policies will unfold?

What factors can influence the economic outlook according to the text?

What does the text imply about the nature of policy decisions?