More from Yellen:
More from Yellen: FOMC has hiked rates this year on the belief the economy is performing well. She added the balance sheet runoff has begun too, as such stimulus is no longer needed to such an extent. The improvement in the labor market has been "substantial" and "vast," she stressed and including a number of data points supporting her case, including jobs, the unemployment rate, the quit rate, etc. The Fed also sees sufficient strength in spending and growth to keep the job market strong over the medium term, hence the rate hikes are "well justified." The Fed is committed to the 2% inflation goal, and they will balance the risks of potentially tightening too much and undermining the inflation objective, or not tightening enough and letting inflation get out of control. She finished her presser with these comments.