Growth through the first half was 1.9%

  • Repeats that Fed should be patient
  • I'm not saying we won't act again this year, but we must be patient
  • Government shutdown is something we must be monitoring
  • We should begin process of running down balance sheet soon
  • 'I'd say neutral rate is in the 2s'
  • Declines to comment on Yellen's chances of a second term, says he's been very impressed with her
  • Biggest concern at the moment is NAFTA negotiations

We've heard all this before from Kaplan. We're going to get the Jackson Hole schedule later today; that's the main item on the Fed agenda.