Surveillance: Central Bank Roundup with Posen
Bloomberg Surveillance
00:00
Forward Guidance and the Fed's Communication Problems
The Fed and other central banks really liked the idea at various times. But now it seems like they're having trouble communicating with the markets since they're unable to say what they're going to do next. Is that a Fed problem, a market problem? Or does forward guidance not work as well as they thought? Forward guidance was never meant to be a standalone useful tool in the normal situation.
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