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Transcripts For CNBC Closing Bell 20150917

A policy that on average would hold the inflation rate below 2 . That is not our policy. We want to see the inflation rate get back to 2 as rapidly as we can. But there are lags in the impact of Monetary Policy on the economy and if we waited until inflation was back to 2 and that would probably mean that unemployment had declined well below our estimates of the natural rate and only then did we start to begin to you know, the word tighten Monetary Policy i dont think is really right because we have an immensely accommodate testify Monetary Policy in place. So let me say just to begin to diminish the extraordinary degree of accommodation for Monetary Policy we would be overshoot we would likely overshoot substantially our 2 objective and we might be faced with then having to tighten policy in a way that could be disruptive to the real economy and i dont i dont think thats a desirable way to conduct policy. Gina, bloomberg news. You mentioned earlier that there is always going to be som

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