Philadelphia's Santomero on making monetary policy

In the speech 'Making monetary policy: What do we know and when do we know it?' given on 7 April Anthony Santomero of the Philadelphia Fed said economic data tend to be imprecise and therefore it makes sense for the Federal Reserve to act cautiously.

"The fact that there is uncertainty surrounding the state of the economy and new economic information becomes available on a nearly continuous basis supports the notion that it makes sense for policymakers to move in a slow and cautious manner,"

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