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Federal Reserve chair Janet Yellen is giving her first press conference after taking over as chief of the U.S. central bank.

Here’s what the Fed’s , which makes interest rate decisions on behalf of the Fed, said in a :

• The key federal funds rate will stay at between 0 and 0.25 percent, and could hover at that level for a while.
• The Fed will continue backing away from quantitative easing, one of the last remaining policy programs created during the financial crisis to spur economic growth.
• The Fed expects the job market to continue improving “gradually.”
• High inflation hasn’t become a problem, but an inflation level that’s too low, as the U.S. inflation rate has been, could become one.
• A 6.5 percent unemployment rate is no longer the magic number. The Fed said it no longer will use that rate as a threshold for policy decisions, such as increasing the key rate.