Ellen Meade on Transparency, Independence, and Lessons for the Fed’s Next Framework Review
Macro Musings with David Beckworth
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What Are Your Thoughts on Forward Guidance?
The fed started using forward guidance in the early two thousands fasically, while denver nae was a governor when he first came to the board. The idea was that you provide information about your expected future policy rate path as a way of helping markets understand where you're going. Now, it's not a commitment, because it's conditional on how developments in the economy turn out. But nevertheless, has been very helpful to the fed over time through a variety of circumstances.
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