Wednesday's cpi reading showed weakness in a number of categories; something fed will be focused on

Says decisions about long-run framework for monetary policy don't need to be made for quite some time

Knows that administration is working hard to fill out open slots at fed board

Fed has taken note of weak core inflation readings

Fully intends to serve out term as chair

Conditions are in place for inflation to rise

Has not seen much evidence that expectations of fiscal policy changes have driven changes in consumer or business spending

Employment is near maximum sustainable level

Pickup in global growth helping U.S. exports this year