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Sen. Toomey should read Mises or Rothbard, and check other resources on mises.org, and he'd be able to grill Yellen with greater intensity next time.
The FedMoney and Banks
The Fed's terrible record of forecasting has destroyed its credibility to the point that its word no longer means anything.
The FedU.S. Economy
The Fed admits the jobs data is worsening, and sees no way to raise rates without torpedoing the tepid recovery.
The FOMC appears to be downbeat about job gains, stating that the "pace of improvement in the labor market has slowed."
The FedMoney and BanksMoney and Banking
Inflation isn't an increase in prices, and deflation isn't what causes economic depressions.
Central bankers think the official statistics are overcounting inflation and undercounting productivity.
Ben Bernanke is not the savior who rescued the global economy; he is the clueless fool who plunged a poisoned knife in its back.
The FedU.S. EconomyPolitical Theory
They have mismanaged the economy and I am afraid the worst is yet to come.
This tepid recovery is now very long in the tooth and industrial production and PMI's are slipping into recession mode virtually everywhere.
Big GovernmentThe FedStrategyU.S. EconomyInterventionism