GREG IP:   Could you put some numbers on what -- on the meaning of exceptionally low federal funds rate? For example, would a 1 percent federal funds rate qualify as exceptionally low at the end of 2014?

 BERNANKE: Exceptionally low -- you know, one of the reasons that the language in the statement is sometimes a little vaguer than you would like, is because we're trying to get a consensus among 17 -- or at least 10 people -- and different members or participants in the FOMC might have somewhat different views of what exceptionally low means.

Personally, I think it means something close to where we are now.