McTeer says Fed wording moves focus from calendar

Dallas Federal Reserve President Robert McTeer said on Saturday 21 February the shift in the wording of the FOMC's statement represented a an effort to force financial markets to focus on economic conditions rather than on time.

"Being patient is very similar to a considerable period of time. It shifts the emphasis that some people seem to place away from the calendar and I think a little bit more towards economic conditions," McTeer told Reuters after addressing a teachers' group. The Dallas