Name: Janet L. Yellen

Summary: Economic Outlook: "Were the FOMC to delay the start of policy normalization for too long, we would likely end up having to tighten policy relatively abruptly to keep the economy from significantly overshooting both of our goals. Such an abrupt tightening would risk disrupting financial markets and perhaps even inadvertently push the economy into recession. Moreover, holding the federal funds rate at its current level for too long could also encourage excessive risk-taking and thus undermine financial stability."

Lean: Hawkish

Substantially Similar to Prior Statements: Yes

Statement Date: December 3, 2015

Publication Date: December 3, 2015

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