April 29 FOMC Minutes: Some participants said...>

FED: April 29 FOMC Minutes: Some participants said forward guidance could be

made more explicit. "Committee could adopt outcome-based forward guidance" based

on certain levels of the unemployment rate or inflation." Date-based FG could

also be considered.  

- IOER: No IOER adjustment because "there appeared to be limited risk that the

federal funds rate would move below the target range."

- YCC: "Few Participants" noted Treasury yields at short to medium-term

maturities could be capped at specified levels for a period of time.

- Asset Purchases: "Several participants" remarked that the Committee may need

to provide further clarity regarding its intentions TSY purchases, agency MBS.

"These participants" noted that, without further communication on this matter,

uncertainty could increase over time.

- Framework review: "Several participants observed that the completion, most

likely later this year, of the monetary policy framework review" would help

further clarify the Committee's intentions.