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FED: Fed Had to be Humble Regarding Forward Guidance, Press Conference Ends

FED
  • Q: Can you say anything about the Fed's reaction function re the pace of cuts going forward?
    • A: I think the reality is that forecasters have been surprised by the strength of the economy last year.  So I think we had to be pretty humble about giving forward guidance.  We need to be careful about that.  Nobody has great vision deep into the future. In terms of reaction function, that's a long-time discussion that people have had forever.
  • Last Q:There hasn't been a lot of talk about central bank digital currency - is that a dead issue?
    • A: It is not something that comes up at all in the FOMC.
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