Remember that 6-1/2 percent jobless benchmark - forget about it!
In Janet Yellen's first meeting as Fed chair, policymakers decided the jobless rate alone is no longer enough to signal when the Fed will begin hiking interest rates.
But it's Yellen's startling comments in the press conference as to how soon rates could rise after bond purchases cease that knocked Wall Street off its feet.
SOUNDBITE: FEDERAL RESERVE CHAIR JANET YELLEN (ENGLISH) SAYING:
"The language that we use in this statement is considerable period, so this is the kind of term it's hard to define but probably means something along the order of around six months or that type of thing. But you know it depends. What the statement is saying, as the statement is saying, it depends on what conditions are like. We need to see where the labor market is, how close are we to our full-employment goal. That would be a complicated assessment, not just based on a single statistic and how rapidly we are movi
