Chairman addresses concerns about narrative control; discusses reaction function versus forecasts and dots.

So some of your peers have continued to discuss how they think about policy decisions and if you don't offer your reaction function or your way of thinking about it, how concerned are you that you're seeing control of the narrative? So not very concerned, that's a short answer to the question. When some people that follow the Fed say, well, we don't want your forecast, we don't want your dot, we just want your reaction function, part of me here is the, what we really want is your forecast and what we really want is your dot. In terms of reaction function, let me sort of disabuse people of a question that may or may not be real and be out there.