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Minutes: Forward Guidance 'At Some Point'

FED
    • "A number of participants" noted that providing greater clarity regarding the likely path of the target range for the federal funds rate would be appropriate "at some point."
    • "Participants" commented on outcome-based forward guidance—under which the Fed would undertake to maintain the current target range for the federal funds rate "at least until one or more specified economic outcomes was achieved—and also touched on calendar-based forward guidance—under which the current target range would be maintained at least until a particular calendar date."
    • In the context of outcome-based forward guidance, "various participants" mentioned using "thresholds calibrated to inflation outcomes, unemployment rate outcomes, or combinations of the two, as well as combinations with calendar-based guidance."
MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com

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