Fed mulling switch to new policy rate
The Federal Reserve could abandon the federal funds rate as its operating target as it looks to exit from its extraordinary stimulus, Ben Bernanke, the chairman of the Federal Reserve, on Wednesday revealed.
Bernanke wrote in testimony to Congress: "The Fed is considering the utility, during the transition to a more normal policy configuration, of communicating the stance of policy in terms of another operating target, such as an alternative short-term interest rate. In particular it is possible
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