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Q&A summary so far: - Q: First Q on............>

FED
FED: Q&A summary so far: 
- Q: First Q on inflation level that would make FOMC concerned about low
inflation...
- A: 'persistently below 2%'. Cites portfolio management services etc as being
transient factors in depressed inflation. Don't see a strong case for a rate
move in either direction
- Q: Have mkts gotten ahead of themselves on pricing rate cuts / what conditions
would be required to cut?
- A: Policy appropriate right now, no strong case for moving in either
direction. Look at alternative scenarios, but that's all we do, FOMC comfortable
with current stance
- Q: On IOER, why the EFFR breach of limit a problem?
- A: A small temporary deviation outside of range would not be important, but
important that we can control FFR and keep within range - that's just good
monetary policy
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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