Fed's Yellen: Economy not overheating at the moment; every meeting is live, including November

Following are the key quotes, via Reuters, from Janet Yellen's Q&A session with journalists at FOMC Press Conference, following the central bank decided to leave unchanged the interest rates in September's meeting:

• Says seeing definite evidence that U.S. economy expanding more strongly
• Says not seeing strong pressures on labour market utilization that would suggest overheating
• Economy has a little more room to run than previously thought
• FOMC agrees that risks to outlook have become roughly balanced
• Expects labour market to continue strengthening, gradual increases in fed funds rate appropriate
• Fed generally agreed that increases in rates will be appropriate
• Most on FOMC thought case for immediate increase in rates was stronger
• Says needs more evidence showing progress to objectives
• Most of FOMC do expect one increase in fed funds rate this year
• Says expects to see one rate hike this year if no major new risks, stay on current course
• Says policy needs to be forward looking, doesn't want economy to overheat
• Good that FOMC does not suffer from groupthink
• Says partisan politics plays no roles in Fed decisions
• Says does not discuss politics at Fed meetings
• Decision not to raise rates today is largely based on judgment that there is no evidence economy overheating
• Every meeting is live, including November
• Timing on raising rates prompted active discussion at Fed meeting, range of opinions
• Current global environment does give rise to reach for yield
• Says should be concerned that reach for yield creates financial stability risks
• Threats to financial stability are moderate
• Says asset valuations not out of line
• Commercial real estate risks has caught Fed's attention
• Says not seeing signs of leverage building up
• Says not certain what is causing weak investment spending
• Weakness in investment spending extends beyond oil sector
• Says won't comment on U.S. election
• Says fed is generally please with U.S. economy
• There are risks in waiting too long to raise rates