Chairman notes markets reacting to real-time events rather than Fed signals; observes developments with interest.

And like I said to one of your colleagues, I was comforted that markets in the inter-meeting period weren't reacting to us, they weren't reacting to dots or to speeches, they appeared more than ever to be reacting to real-time events. So they're gauging themselves how restrictive the treasury curve should be. And that I think has been a useful development. We don't endorse any particular market move, but I'd also suggest we observe them with keen interest. Janelle Marté with Bloomberg.