Fed's Yellen: Important not to overreact to a few inflation readings; data can be noisy

Fed's Chairwoman Janet Yellen is on the wires now, stating that conditions are in place for inflation to rise.

More headlines from the press conference (via Reuters):

• Fed has taken note of weak core inflation readings
• Wednesday's CPI reading showed weakness in a number of categories; something Fed will be focused on

Market updates post-FED:

EUR/USD remains bid around 1.1260; 10-yr yield hovers at 2.12% on Fed’s hawkish rate hike

USD/JPY rises modestly as Fed hikes rates as expected

US Dollar rebounds post-FOMC, remains below 97 ahead of Yellen's remarks

GBP/USD trading 30 pips around 1.28 handle post FOMC statement

Dow clocks fresh session high after Fed maintains outlook for three rate hikes this year

USD/CAD slightly higher after Fed’s decision, still negative for the day

Gold, capped on $1,280 post FOMC, bears take back control, eyes on $1,258/Yellen presser

AUD/USD backs away from session highs after Fed delivered a hawkish rate hike

USD/CHF rises to 3-day highs after FOMC decision

Yellen defends the hawkish rate hike, EUR/USD surrenders gains

NZD/USD eases from 4-month highs during Yellen's presser