Federal Reserve chair Janet Yellen doesn't think the U.S. central bank has a credibility issue.
"We're struggling through a difficult set of issues" as the Fed looks to identify "the new normal," she said in response to a reporter at her press conference.
The questioner cited a speech that Yellen gave in Jackson Hole, Wyoming, that many market pundits interpreted as indicating that the Federal Open Market Committee was leaning increasingly toward raising interest rates in September.
That, of course, didn't happen today. The Fed lowered its forecast for 2016 and reduced projections for 2017.