Takeaways from Janet Yellen's press conference

LAST Wednesday, Fed chairman Janet Yellen met the press after announcing a second rate hike in three months.

Today, we highlight the important takeaways in an edited transcript of the conference.

Fed hike doesn't mean views on economy changed

Yellen: Today, the Federal Open Market Committee decided to raise the target range for the federal funds rate by 0.25 percentage point, bringing it to 0.75 to one per cent.

Our decision to make another gradual reduction in the amount of policy accommodation reflects the economy's continued progress toward the employment and price stability objectives assigned to us by law.

For some time the Committee has judged that, if economic conditions evolved as anticipated, gradual increases in the …