Janet Yellen at Jackson Hole in 50 words or less

Will unconventional monetary policy be over anytime soon?

Yellen: No. It has becomeĀ our norm.

Will interest rates go back to pre-crisis levels anytime soon?

Yellen: No. The world has changed.

Is the Fed raising rates?

Not quite. Since December 2015, long term rates are lower, not higher. (See Chart)

Is interest rate policy helpful for growth?

Yellen: It is not enough.

yield curve