Q&A continues: - Q: Looking back, did Fed.......>

FED: Q&A continues:

- Q: Looking back, did Fed raise rates too quickly?

A: Looking back at 2018, GDP growing 3%, inflation 2%, fiscal stimulus, we never

got policy to what we thought was the neutral rate at the time. Still seems to

be the right thing in hindsight. So policy was always accommodative through that

year. But facts on the ground have changed: global slowdown, trade situation.

- Q: What would econ effect of China talks falling apart be?

A: Don't want to speculate on hypothetical. We try not to react in a very short

term to volatility and things that can change back and forth. Monetary policy

not the right tool.

- Q: Time to retire the Dot Plot?

A: It's an expression of the thinking of individual committee members about

appropriate policy. At inflection points it's hard to convey the reality that

policy will depend on the outlook, and when that's changing, the dots are not a

consideration. I'd like to say if you do focus on the dots you miss the broader

picture.